To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
USA116th CongressHR-7749| House
| Updated: 7/23/2020
Darin LaHood
Republican Representative
Illinois
Cosponsors (4)
Ways and Means Committee, Tax Subcommittee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill defines intangible property to include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.
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Timeline
Introduced in House
Referred to the Subcommittee on Select Revenue Measures.
Referred to the House Committee on Ways and Means.
Taxation
Intellectual propertyTaxation of foreign income
To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
USA116th CongressHR-7749| House
| Updated: 7/23/2020
This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill defines intangible property to include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the Subcommittee on Select Revenue Measures.
Referred to the House Committee on Ways and Means.
Darin LaHood
Republican Representative
Illinois
Cosponsors (4)
Ways and Means Committee, Tax Subcommittee
Taxation
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Intellectual propertyTaxation of foreign income