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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 30, 2019.
Restoring Economic Opportunities for Small Family C-Corporations
This bill reinstates (1) the 15% corporate tax bracket for up to $50,000 in taxable income, and (2) the additional tax on corporations with taxable income that exceeds $100,000. The bill limits the additional tax to the lesser of 5% of the excess or $3,000. (Under current law, corporations are taxed at a flat 21% rate.)