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HOUSE 2031117th CongressReferred to the House Committee on Ways and Means.

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

Last Action
3/18/2021

Actions

  • 2021-03-18Referred to the House Committee on Ways and Means.
  • 2021-03-18Introduced in House
  • 2021-03-18Introduced in House

CRS Summary

As of 2021-03-18 (00)

This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill defines intangible property to include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.

Cosponsors (1)

  • A. Ferguson (R-GA)

Subjects

  • Intellectual property
  • Taxation of foreign income
Read on Congress.gov

Sourced from Congress.gov (public domain).

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