HR 1410 · 103th Congress · Taxation

To amend the Internal Revenue Code of 1986 to provide that the deduction for States and local income and franchise taxes shall not be allocated to foreign source income.

Introduced 1993-03-18· Sponsored by Rep. Thomas, William M. [R-CA-21]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1993-03-18)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that for purposes of computing the foreign tax credit, any deduction for State or local income or franchise tax shall not be allocated or apportioned to gross income from sources outside the United States.…

Summarized by Claude AI · Non-partisan · For informational purposes only