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26 U.S.C. 1352: Alternative tax on qualifying shipping activitiesText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 26-INTERNAL REVENUE CODECHAPTER 1-NORMAL TAXES AND SURTAXES
Jump To: Source CreditStatutory Notes and Related SubsidiariesEffective Date

§1352. Alternative tax on qualifying shipping activities

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.

(Added Pub. L. 108–357, title II, § 248(a) , Oct. 22, 2004 , 118 Stat. 1450 .)

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable to taxable years beginning after Oct. 22, 2004, see section 248(c) of Pub. L. 108–357, set out as an Effective Date of 2004 Amendments note under section 56 of this title.