A bill to amend the Internal Revenue Code of 1954 with respect to the treatment under the personal holding company provisions of computer software royalties earned by active businesses and the treatment under the minimum tax provisions of research or experimental expenditures of personal holding companies, and for other purposes.
High Technology Active Business Act of 1985 - Amends the Internal Revenue Code to exclude from personal holding company income any computer software royalties derived from the active conduct of a trade or business by the corporation. Sets forth specific rules for determining whether such royalties are derived from the active conduct of a trade or business.
Eliminates research or experimental expenditures as an item of tax preference for purposes of the minimum tax for personal holding companies.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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