§ 3060.40. Calculation of the assumed Federal income tax.
170 words·~1 min read·
/us/cfr/t39/s§ 3060.40·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The assumed Federal income tax on competitive products income shall be based on the Postal Service theoretical competitive products enterprise income statement for the relevant year and must be calculated in compliance with chapter 1 of the Internal Revenue Code by computing the tax liability on the taxable income from the competitive products of the Postal Service theoretical competitive products enterprise at the applicable corporate tax rate.
(b)The end of the fiscal year for the annual calculation of the assumed Federal income tax on competitive products income shall be September 30.
(c)The calculation of the assumed Federal income tax due shall be submitted to the Commission no later than the January 15 following the close of the fiscal year referenced in paragraph
(b)of this section.
(d)No estimated Federal income taxes need to be calculated or paid.
(e)No state, local, or foreign income taxes need to be calculated or paid. \[73 FR 79261, Dec. 24, 2008, as amended at 84 FR 31738, July 3, 2019\]
Connections31 cite this
Cited by 31 sections · top 18
register
- NoticesNotice
- NoticesFinal rule
- NoticesNotice
- Rules and RegulationsNotice
- NoticesFinal rule
- NoticesNotice
- Rules and RegulationsNotice
- NoticesNotice
- Rules and RegulationsNotice
- Presidential DocumentsNotice of proposed rulemaking
- NoticesFinal rule
- NoticesNotice
- NoticesNotice
- NoticesNotice
- Proposed RulesProposed rulemaking
- Rules and RegulationsNotice
- NoticesNotice
Citation graph
cites case law
§ 3060.40
Calculation of the assumed Federal income tax.
Fed. Reg.×30
C.F.R.×1
Cites 0Cited by 31 across 2 sources