The corporate rate written into the 2017 tax law
Section 13001 of Public Law 115-97 set the corporate income-tax rate in Internal Revenue Code section 11(b) at 21 percent. [U.S. Government Publishing Office]
Read the scope first.
Section 13001 of the law enacted December 22, 2017; not a current tax calculation or economic-impact estimate.
WHAT THE DOCUMENT SAYS
The record.
The enacted section replaces section 11(b) with a provision imposing tax at 21 percent of taxable income. [U.S. Government Publishing Office]
The section specifies application to taxable years beginning after December 31, 2017. [U.S. Government Publishing Office]
KEEP THIS PART ATTACHED
The context.
A statutory rate is not the same as a company's effective tax rate. This entry does not estimate distributional effects, wages, deficits, or later amendments. It isolates one provision of a much larger law. [U.S. Government Publishing Office]
DON’T TAKE OUR WORD FOR IT
Open the original.
- Enacted text · U.S. Government Publishing OfficePublic Law 115-97: Section 13001
Section 13001(a) and effective-date provision
https://www.govinfo.gov/content/pkg/PLAW-115publ97/html/PLAW-115publ97.htm
Correction history
No published corrections to this entry.
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