Sec. 7. Tax on investment gain
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/bill/115/hr/1114/ih/section-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(a)of section 1411 of the Internal Revenue Code of 1986 is amended by striking 3.8 percent each place it appears and inserting 10 percent . The heading for chapter 2A of the Internal Revenue Code of 1986 is amended by inserting after and Social Security . Medicare Subsection
(a)of section 201 of the Social Security Act ( 42 U.S.C. 401 ) is amended— in paragraph (4), by striking the period at the end and inserting ; and ; by inserting after paragraph
(4)the following new paragraph: 62 percent of the taxes imposed under section 1411 of the Internal Revenue Code of 1986, less the amounts specified in clause
(3)of subsection
(b)of this section. ; and in the flush matter at the end— by striking clauses
(3)and
(4)each place it appears and inserting clauses (3), (4), and
(5); and by striking clauses
(1)and
(2)and inserting clauses (1), (2), and
(3). Subsection
(b)of such section is amended— in paragraph (2), by striking the period at the end and inserting ; and ; and by adding at the end the following new paragraph: 9 percent of the taxes imposed under section 1411 of the Internal Revenue Code of 1986. . The amendments made by this section shall apply to taxable years beginning after December 31, 2017.
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Sec. 7
Tax on investment gain
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