Title 39 — Postal Service
Part IV · Chapter 36 — Postal Rates, Classes, and Services
§ 3634. Assumed Federal income tax on competitive products income
Statutory text
Definitions.—
For purposes of this section—
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
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—
the only activities of such corporation were the activities of the Postal Service allocable under section 2011(h) to competitive products; and
the only assets held by such corporation were the assets of the Postal Service allocable under section 2011(h) to such activities.
Computation and Transfer Requirements.—
The Postal Service shall, for each year beginning with the year in which occurs the deadline for the Postal Service’s first report to the Postal Regulatory Commission under section 3652(a)—
compute its assumed Federal income tax on competitive products income for such year; and
transfer from the Competitive Products Fund to the Postal Service Fund the amount of that assumed tax.
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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 109–435 title IV § 402 · 120 Stat. 3198
Enacted · 39 U.S.C. § 3634
(Added Pub. L. 109–435, title IV, § 402, Dec. 20, 2006, 120 Stat. 3226.)
Source evidence
Code source credit
(Added Pub. L. 109–435, title IV, § 402, Dec. 20, 2006, 120 Stat. 3226.)Enacted provision · exact public law section
SEC. 402. ASSUMED FEDERAL INCOME TAX ON COMPETITIVE PRODUCTS INCOME. Subchapter II of chapter 36 of title 39, United States Code, as amended by section 202, is amended by adding at the end the following: “§ 3634. Assumed Federal income tax on competitive products income “(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 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) Computation and Transfer Requirements.— The Postal Service shall, for each year beginning with the year in which occurs the deadline for the Postal Service’s 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.” .
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
The Internal Revenue Code of 1986, referred to in subsec. (a), is classified to Title 26, Internal Revenue Code.
Credits
(Added Pub. L. 109–435, title IV, § 402, , 120 Stat. 3226.)