HR 4049 · 99th Congress · Taxation

A bill to preclude States from taking into account, under the unitary taxing method, the income of a corporation's foreign affiliates.

Introduced 1986-01-23· Sponsored by Rep. Mica, Daniel Andrew [D-FL-14]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Monopolies and Commercial Law.(1986-02-13)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to prohibit States from including in the gross income of a corporation any income attributable to the corporation's foreign affiliates, unless such foreign income is includible in the gross income of the corporation for Federal income tax purposes.…

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