Us Code § 3634 - Assumed Federal income tax on competitive products income
Full text of Us Code United States Code § 3634 — Assumed Federal income tax on competitive products income, with citation guidance and answers to common questions.
§ 3634. Assumed Federal income tax on competitive products income
(a)
(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)
(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)
(Added Pub. L. 109–435, title IV, §402, Dec. 20, 2006, 120 Stat. 3226.)
Editorial Notes
References in Text
The Internal Revenue Code of 1986, referred to in subsec. (a), is classified to Title 26, Internal Revenue Code.
SUBCHAPTER III—PROVISIONS RELATING TO EXPERIMENTAL AND NEW PRODUCTS
Editorial Notes
Amendments
2006—Pub. L. 109–435, title II, §203, Dec. 20, 2006, 120 Stat. 3207, substituted "PROVISIONS RELATING TO EXPERIMENTAL AND NEW PRODUCTS" for "TEMPORARY RATES AND CLASSES" in subchapter heading.
About This Section
39 U.S.C. § 3634 is part of Title 39 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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