House Bill 4166
115th Congress(2017-2018)
To amend the Internal Revenue Code of 1986 to allow all employees of a firm to be counted as a single shareholder toward the shareholder limit of an S corporation.
Introduced
Introduced in House on Oct 27, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4166
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
This bill amends the Internal Revenue Code, with respect to the limit on the number of shareholders of an S corporation, to: (1) allow employees (and their estates) of the S corporation and any wholly owned business entities of the corporation to be treated as one shareholder if the corporation only has employee shareholders; (2) allow nonresident aliens to be shareholders if the nonresident alien is an employee, or the spouse of an employee, of such a corporation; and (3) establish tax withholding requirements for nonresident aliens who are permitted to be shareholders under this bill.
October 27, 2017
10/27/2017
Referred to the House Committee on Ways and Means.
10/27/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:38:21 PM