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United States · Bill · HR

H.R. 4308 (101st)

Foreign Tax Equity Act of 1990

referredUnited States· United States Congress· EN

Introduced

20 March 1990

Last action

20 March 1990 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Rostenkowski, Dan [D-IL-8], Rep. Gephardt, Richard A. [D-MO-3], Rep. Dingell, John D. [D-MI-12], Rep. Annunzio, Frank [D-IL-11], Rep. Russo, Martin A. [D-IL-3], Rep. Matsui, Robert T. [D-CA-5], Rep. Bonior, David E. [D-MI-10], Rep. Pickle, J. J. [D-TX-10], Rep. Rangel, Charles B. [D-NY-15], Rep. Stark, Fortney Pete [D-CA-13], Rep. Ford, Harold E. [D-TN-9], Rep. Jenkins, Edgar L. [D-GA-9], Rep. Guarini, Frank J. [D-NJ-14], Rep. Pease, Donald J. [D-OH-13], Rep. Anthony, Beryl, Jr. [D-AR-4], Rep. Flippo, Ronnie G. [D-AL-5], Sen. Dorgan, Byron L. [D-ND], Rep. Coyne, William J. [D-PA-14], Rep. Levin, Sander M. [D-MI-12], Rep. Atkins, Chester G. [D-MA-5], Rep. Coleman, Ronald D. [D-TX-16], Rep. Frank, Barney [D-MA-4], Sen. Johnson, Tim [D-SD], Rep. Kaptur, Marcy [D-OH-9], Rep. Lewis, John [D-GA-5], Rep. Lipinski, William O. [D-IL-3], Rep. Mavroules, Nicholas [D-MA-6], Rep. Nagle, Dave R, [D-IA-3], Rep. Neal, Stephen L. [D-NC-5], Rep. Scheuer, James H. [D-NY-8], Rep. Slaughter, D. French, Jr. [R-VA-7], Rep. Unsoeld, Jolene [D-WA-3], Rep. Wise, Robert E., Jr. [D-WV-2], Rep. Chapman, Jim [D-TX-1], Rep. Sikorski, Gerry E. [D-MN-6], Rep. Smith, Lawrence [D-FL-16], Rep. Nowak, Henry [D-NY-33], Rep. Anderson, Glenn M. [D-CA-32], Rep. Glickman, Dan [D-KS-4], Rep. Neal, Richard E. [D-MA-1], Rep. Gaydos, Joseph M. [D-PA-20], Sen. Durbin, Richard J. [D-IL], Rep. McNulty, Michael R. [D-NY-23], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Vento, Bruce F. [D-MN-4], Rep. Hayes, James A. [D-LA-7], Rep. Ford, William D. [D-MI-13], Rep. Rahall, Nick J., II [D-WV-3]

Subjects

Taxation

Source updated

26 August 2025

Taxation

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Summary

Foreign Tax Equity Act of 1990 - Title I: Treatment of Certain Foreign-Owned Corporations - Applies the Revenue Reconciliation Act of 1989 amendments regarding information reporting requirements by certain foreign-owned corporations to taxable years beginning on or before July 10, 1989. Amends the Internal Revenue Code to establish information reporting requirements for foreign corporations engaged in business within the United States. Extends the statute of limitations for the assessment of any foreign-related deficiency by an additional period of not more than three years. Title II: Tax on Disposition of Stock in Domestic Corporations by 10-Percent Foreign Shareholders - Provides that if any nonresident alien or foreign corporation is a ten-percent shareholder in any domestic corporation, any gain or loss from the disposition of any stock in such domestic corporation shall be taken into account as if the taxpayer were effectively connected with U.S. trade or business. Requires a withholding agent to withhold ten percent of the tax realized on certain stock dispositions by such ten-percent shareholders.

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

Timeline

  1. 20 March 1990

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 20 March 1990

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 20 March 1990

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

2 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN

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  • Introduced in House

    summary · EN · 20 March 1990

    Open at official source

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Sponsors

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Related records

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Sources

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