Sec. 3607. Relocation of C corporation definition
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/bill/113/hr/1/ih/section-3607A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(a)of section 1361 is amended— by striking paragraph (2), and by striking and all that follows through S corporation defined. — For purposes of this title, the term and inserting the following: S corporation means . In general. —For purposes of this title, the term S corporation means Section 7701(a)(3) is amended— by striking and inserting the following: Corporation. —The term corporation means Corporations.— The term corporation means , and by adding at the end the following new paragraph: The term C corporation means, with respect to any taxable year, a corporation which is not an S corporation for such year. . The amendments made by this section shall take effect on the date of the enactment of this Act.