World Trade Center Zone Tax Incentive Act

Summary

World Trade Center Zone Tax Incentive Act - Amends the Internal Revenue Code to state that if there is a qualified headquarters relocation of an eligible foreign corporation, any qualified headquarters activities of the corporation conducted in the New York Liberty Zone shall be treated as conducted outside the United States for purposes of determining: (1) the amount of any tax or withholding tax; or (2) whether the corporation has a permanent establishment within the United States for purposes of any applicable income tax treaty between the United States and any foreign country. Sets forth "qualified headquarters relocation" criteria with respect to transfers of employees and headquarters activities. Provides for termination and recapture of tax benefits for failure to meet such requirements. Defines "expanded affiliated group" for purposes of this Act.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 May 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 May 2003

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• Introduced in Senate

  summary · EN · 15 May 2003

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