A bill to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

Summary

Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (banking, financing, or similar business) income earned on business operations overseas. (Thus permits American financial services firms doing business abroad to defer U.S. tax on their earnings from their foreign financial services operations until such earnings are returned to the U.S. parent company.)

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

Timeline

1. 27 April 1999

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 27 April 1999

   Introduced

   Sponsor introductory remarks on measure. (CR S4280)

   Source: IntroReferral

3. 27 April 1999

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 27 April 1999 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 April 1999

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 April 1999

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 27 April 1999

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Mack, Connie, III [R-FL] · R · Sponsor
• Sen. Bryan, Richard H. [D-NV] · D · Sponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Sponsor
• Sen. Breaux, John B. [D-LA] · D · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Robb, Charles S. [D-VA] · D · Cosponsor
• Sen. Rockefeller, John D., IV [D-WV] · D · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.