S. 1782 · 109th Congress
Qualified Personal Service Corporations Clarification Act of 2005
- Stage
- In committee
- Sponsor
- Sam Brownback
- Introduced
- 2005-09-28
- Latest action
- 2005-09-28 · Introduced in Senate
Summary
Qualified Personal Service Corporations Clarification Act of 2005 - Amends the Internal Revenue Code to modify the criteria for determining whether a corporation is a qualified personal service corporation. Includes within the definition of qualified personal service corporation a qualifying corporation substantially all of whose stock is held by certain former employees (thus permitting such corporation to use the cash method of accounting).