To amend the Internal Revenue Code of 1986 to exclude from the definition of personal holding company income certain royalties and rents derived in the active conduct of a trade or business.
Removing Onerous Obstacles in the Tax code for Mainstreet Businesses Act of 2018 or the ROOT for Mainstreet Businesses Act of 2018
This bill amends the Internal Revenue Code to exclude from personal holding company income certain rents and royalties that are derived in the active conduct of a trade or business and are not received from a related person.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line