To amend the Internal Revenue Code of 1986 to terminate the deferral of active income of controlled foreign corporations.
Putting America First Corporate Tax Act
This bill amends the Internal Revenue Code to modify the definition of subpart F income (i.e., income of a controlled foreign corporation earned outside the United States that is not tax-deferred) to include income of a controlled foreign corporation derived from any foreign country. This modification is applicable to taxable years beginning after December 31, 2015.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Referred to the Subcommittee on Water Resources and Environment.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Health.
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