39 U.S. Code § 3634 - Assumed Federal income tax on competitive products income

prev | next
(a) Definitions.— For purposes of this section—
(1) the term “assumed Federal income tax on competitive products income” means the net income tax that would be imposed by chapter 1 of the Internal Revenue Code of 1986 on the Postal Service’s assumed taxable income from competitive products for the year; and
(2) the term “assumed taxable income from competitive products”, with respect to a year, refers to the amount representing what would be the taxable income of a corporation under the Internal Revenue Code of 1986 for the year, if—
(A) the only activities of such corporation were the activities of the Postal Service allocable under section 2011 (h) to competitive products; and
(B) the only assets held by such corporation were the assets of the Postal Service allocable under section 2011 (h) to such activities.
(b) Computation and Transfer Requirements.— The Postal Service shall, for each year beginning with the year in which occurs the deadline for the Postal Service’s first report to the Postal Regulatory Commission under section 3652 (a)
(1) compute its assumed Federal income tax on competitive products income for such year; and
(2) transfer from the Competitive Products Fund to the Postal Service Fund the amount of that assumed tax.
(c) Deadline for Transfers.— Any transfer required to be made under this section for a year shall be due on or before the January 15th next occurring after the close of such year.

Source

(Added Pub. L. 109–435, title IV, § 402,Dec. 20, 2006, 120 Stat. 3226.)
References in Text

The Internal Revenue Code of 1986, referred to in subsec. (a), is classified to Title 26, Internal Revenue Code.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

39 USCDescription of ChangeSession YearPublic LawStatutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


39 CFR - Postal Service

39 CFR Part 3020 - PRODUCT LISTS

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.