26 U.S.C. § 1352
§ 1352. Alternative tax on qualifying shipping activities
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
The law as written
Current through Public Law 119-102. Amendment notes omitted.
In the case of an electing corporation, the tax imposed by section 11 shall be the amount equal to the sum of—
(1)
the tax imposed by section 11 determined after the application of this subchapter, and
(2)
a tax equal to—
(A)
the highest rate of tax specified in section 11, multiplied by
(B)
the notional shipping income for the taxable year.