A bill to amend the Internal Revenue Code of 1954 to limit the foreign tax credit to amounts paid to national governments, permitting a deduction for foreign taxes paid to subordinate levels of government.

referredUnited States· United States Congress· EN

Introduced

27 April 1977

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code to decrease the tax credit for certain taxes paid foreign national governments by up to ten percent paid while allowing a deduction for that amount of taxes for which the credit is denied.

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Documents

1 official file

Introduced in Senate
summary · EN · 27 April 1977
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/senate-bill/1406
Open data entity: https://api.congress.gov/v3/bill/95/s/1406