A bill to impose Federal income tax sanctions on corporations of a foreign country which imposes sanctions on United States persons because of such persons' presence in a State which uses a worldwide unitary apportionment method of computing the State income of such person.

Summary

Provides that if any foreign country imposes certain sanctions on any United States person then the tax on the income of foreign corporations connected with United States business shall be imposed on the corporations of such foreign country without regard to any treaty between such country and the United States. Specifies the sanctions taken by a foreign country constituting a punitive action with respect to a United States person because a State uses a worldwide unitary apportionment method of measuring State income of multinational corporations doing business within such State.

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1 official file

• Introduced in Senate

  summary · EN · 12 November 1985

  Open at official source

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