Title 26, Internal Revenue CodeRelease 119-102
§1352 Alternative Tax on Qualifying Shipping Activities
Title 26 › Subtitle A — Income Taxes › CHAPTER 1 — NORMAL TAXES AND SURTAXES › Subchapter R — Election To Determine Corporate Tax on Certain International Shipping Activities Using Per Ton Rate › § 1352
Summary
If a corporation chooses this option, it must pay its regular corporate tax plus an extra tax based on shipping income. The extra tax is the top corporate tax rate multiplied by the corporation's notional shipping income for the year.
Full Legal Text
Title 26, §1352
Internal Revenue Code, Source: USLM XML via OLRC
In the case of an electing corporation, the tax imposed by section 11 shall be the amount equal to the sum of— (1)
(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.
Legislative History
Notes & Related Subsidiaries
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.
Reference
Citations & Metadata
Citation
26 U.S.C. § 1352
Title 26, Internal Revenue Code
Last Updated
Aug 21, 2026
Release point: 119-102