39-U.S.C.-3634
§3634 – Assumed Federal Income Tax On Competitive Products Income
Pathway
Title 39 > Part IV > Chapter 36 > Subchapter II > Section 3634
Details
- Reference: Section 3634
- Legend: §3634 – Assumed Federal Income Tax On Competitive Products Income
- USCode Year: 2013
Provision Content
(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 Services 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 Services 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.
(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.
U.S. Encyclopedia of Law Coverage
39-U.S.C.-3634 in the Legal Encyclopedia: Postal Service in General
In this entry about 39-U.S.C.-3634, find legal reference material, bibliographies and premiere content related to postal service in general in the American Encyclopedia of Law, presenting a comprehensive view of the United States postal service in general-specific issues, written by authorities in the field.
39-U.S.C.-3621 in the Legal Encyclopedia: Mail Matter
In this entry about 39-U.S.C.-3621, find legal reference material, bibliographies and premiere content related to mail matter in the American Encyclopedia of Law, presenting a comprehensive view of the United States mail matter-specific issues, written by authorities in the field.
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