§3634 Assumed Federal Income Tax on Competitive Products Income

Summary

Calculate each year the federal income tax the Postal Service would owe on just its competitive-product business. "Assumed federal income tax on competitive products income" means that tax under the federal income tax rules. "Assumed taxable income from competitive products" means the taxable income that comes only from competitive products and the assets used for them. Each year, starting with the year when the Postal Service's first report to the Postal Regulatory Commission is due, the Postal Service must compute that tax and move the same amount from the Competitive Products Fund to the Postal Service Fund. That transfer must be done by January 15 following the end of the year.