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Sec. 1352 Alternative tax on qualifying shipping activities

  • Internal Revenue Code of 1986
  • Chapter 1 -- Normal Taxes and Surtaxes
  • Subchapter R -- Election To Determine Corporate Tax on Certain International Shipping Activities Using Per Ton Rate

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.

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