A Bill to amend the Internal Revenue Code of 1954 to subject foreign investors to the capital gains tax on gain from the sale of real property situated in the United States.

referredUnited States· United States Congress· EN

Introduced

24 January 1979

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code to subject nonresident aliens, estates, trusts, partnerships, 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 Senate
summary · EN · 24 January 1979
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/senate-bill/208
Open data entity: https://api.congress.gov/v3/bill/96/s/208