Capital Investment Act of 1992

Summary

Capital Investment Act of 1992 - Title I: Reduction in Capital Gains Taxes on Certain Assets - Amends the Internal Revenue Code to allow a variable capital gains deduction for noncorporate as well as corporate taxpayers based upon capital assets held from one to five years. Revises the alternative capital gains tax for corporations accordingly. Disallows such deduction in computing the alternative minimum tax for individuals. Title II: Temporary Investment Credit - Allows an investment tax credit for new productive equipment placed in service during 1992 or 1993. Excludes imported property. Title III: Rollover of Gain From Sale of Capital Assets - Provides for the nonrecognition of gain from the sale of a capital asset that is made into a rollover retirement contribution within the 60-day period beginning on the date of the sale. Sets forth a special rule where an exchange of property is treated as a sale. Prohibits any tax deduction for such contributions. Establishes a three-year statute of limitations for deficiency assessments if property is sold at a gain. Increases the penalty for early withdrawals from qualified retirement plans to the extent of amounts that were rollover retirement contributions. Title IV: Research Credit Made Permanent - Makes permanent the credit for increasing research activities.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 February 1992

  Open at official source

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