S 654
98th Congress
Senate
Taxation
Accounting
Foreign Trade and Investments
Income tax
International corporations
Research
Research and development
Science and technology
Tax deductions
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.
Introduced: March 2, 1983
See on congress.gov
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 17, 1983
Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-344.
Jun 17, 1983
Subcommittee on Energy and Agricultural Taxation. Hearings held.
Mar 7, 1983
Committee on Finance requested executive comment from OMB, Treasury Department.
Mar 2, 1983
Read twice and referred to the Committee on Finance.
Mar 2, 1983
Introduced in Senate
Plain-English 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.)
What's happening now
Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-344.
Committees of jurisdiction
3
Cosponsors
1