A bill to amend the definition of an affiliated group in the Internal Revenue Code.

Summary

Amends the Internal Revenue Code to modify the definition of an affiliated group of corporations for purposes of filing a consolidated return to require that a corporation must meet the stock voting and the stock value ownership tests on the first day of the taxable year such corporation wishes to be includible in the consolidated return of the group. Modifies the rules relating to the termination of an affiliated group status to provide that the parent corporation must own stock with a value of more than 50 percent (currently at least 80 percent) of the total value of another corporation for that corporation to continue to be part of an affiliated group.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 7 February 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.