To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.
About This Bill
Committee
Latest Action · March 18, 2021
Referred to the House Committee on Ways and Means.
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.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.