S 3414 · 95th Congress · Income tax
A bill to amend the Internal Revenue Code of 1954 to provide that nonresident aliens are taxable on gain from the sale or exchange of farming property and undeveloped real property at capital gains rates.
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Referred to Senate Committee on Finance.(1978-08-15)
Plain Language Summary
[AI summary unavailable — showing source text]
Amends the Internal Revenue Code to subject to capital gains taxation the gain from the sale or exchange of farming property and undeveloped real property by a nonresident alien.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
10 Democrats10 Republicans