A bill to amend the Internal Revenue Code of 1954 to subject foreign investors to the capital gains tax on gain from the sale or exchange of certain farmland and other rural land located in the United States.

referredUnited States· United States Congress· EN

Introduced

5 January 1981

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to subject nonresident aliens and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States. Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.

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Documents

1 official file

Introduced in House
summary · EN · 5 January 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/house-bill/80
Open data entity: https://api.congress.gov/v3/bill/97/hr/80