House Bill 5240
116th Congress(2019-2020)
To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.
Introduced
Introduced in House on Nov 21, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5240
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
November 21, 2019
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11/21/2019
Referred to the House Committee on Ways and Means.
11/21/2019
Introduced in House
Public Record
Record Updated
Oct 28, 2022 1:46:11 AM