A bill to reform the alternative minimum tax.

Summary

Amends the Internal Revenue Code to establish an alternative minimum taxable floor for purposes of computing the alternative minimum tax for taxpayers other than corporations. Requires that alternative minimum taxable income shall not be less than such minimum taxable floor. Sets forth the method of calculating such minimum taxable floor. Provides that for purposes of such calculation deductions attributable to property held for the production of income or to a trade or business shall not be taken into account to the extent that the deductions from such activities exceed the gross income attributable to such activities.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 February 1984

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 23 February 1984

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

3. 28 February 1984

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 23 February 1984

  Open at official source

Sponsors

• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• · ssfi00 · Standing

Related records

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