A bill to amend the Internal Revenue Code with respect to the tax treatment of certain shipping income.

Summary

Amends the Internal Revenue Code to set forth source of income rules for the tax treatment of shipping income. Provides that: (1) all shipping income attributable to transportation between two ports located in the United States shall be treated as derived from sources within the United States; and (2) 50 percent of all U.S. connected shipping income shall be treated as derived from sources within the United States. Defines "United States shipping income" and "shipping income" for purposes of this Act.

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1 official file

• Introduced in House

  summary · EN · 18 November 1983

  Open at official source

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