A bill to amend the Internal Revenue Code of 1954 to treat deductions for research and experimental expenses attributable to activities conducted in the United States as allocable to income from sources within the United States.

openUnited States· United States Congress· EN

Introduced

2 March 1983

Last action

—

Status

Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-344.

Summary

Amends the Internal Revenue Code to permit U.S. businesses with operations in foreign countries to treat all of their domestic research and experimental expenses as deductions against U.S. source income. (Current IRS regulations require the allocation of a portion of such expenses against foreign source income.)

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Versions

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Documents

1 official file

Introduced in Senate
summary · EN · 2 March 1983
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/98th-congress/senate-bill/654
Open data entity: https://api.congress.gov/v3/bill/98/s/654