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United States · Bill · S

S. 654 (98th)

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

17 June 1983 · Committee

Status

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

Sponsors

Sen. Wallop, Malcolm [R-WY], Sen. Armstrong, William L. [R-CO], Sen. Symms, Steven D. [R-ID], Sen. Boren, David L. [D-OK], Sen. Durenberger, Dave [R-MN], Sen. Danforth, John C. [R-MO], Sen. Roth Jr., William V. [R-DE], Sen. Glenn, John H., Jr. [D-OH], Sen. Heinz, John [R-PA], Sen. Packwood, Bob [R-OR], Sen. Chafee, John H. [R-RI], Sen. Bentsen, Lloyd M. [D-TX], Sen. Baucus, Max [D-MT], Sen. Tower, John G. [R-TX], Sen. Grassley, Chuck [R-IA], Sen. Helms, Jesse [R-NC], Sen. Percy, Charles H. [R-IL]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

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.)

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

Timeline

  1. 2 March 1983

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 2 March 1983

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 7 March 1983

    Committee

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

    Source: Committee

  4. 17 June 1983

    Committee

    Subcommittee on Energy and Agricultural Taxation. Hearings held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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