H.R.1086 - Offshoring Prevention Act

To amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to provide for the taxation of income of controlled foreign corporations attributable to imported property. as introduced.
  • Short: Offshoring Prevention Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
03/12/13
 
 
 
 
 
 
 

Sponsor

Representative

David Cicilline

D-RI

View Co-Sponsors (5)

Official Summary

Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines \"imported property income\" as, with certain exceptions, income

Official Summary

Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines \"imported property income\" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

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