S. 1371
119th CONGRESS 1st Session
To amend the Internal Revenue Code of 1986 to increase the number of eligible shareholders of an S corporation.
IN THE SENATE OF THE UNITED STATES · April 9, 2025 · Sponsor: Mr. Boozman · Committee: Committee on Finance
Table of contents
SEC. 1. Short title
- This Act may be cited as the or the .
SEC. 2. Increase in number of shareholders to qualify as an S corporation
- (a) In general
- of the Internal Revenue Code of 1986 is amended by striking and inserting . Section 1361(b)(1)(A)
- In general
- (b) Effective date
- The amendment made by this section shall apply to taxable years beginning after December 31, 2025.