Amends the Internal Revenue Code to permit corporate joint ventures (other than Subchapter S corporations and personal holding companies) to use the annual accrual method of accounting allowed for corporations engaged in farming.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department; Agriculture Department.
Subcommittee on Taxation and Debt Management. Hearings held.
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