S.1373 - International Tax Competitiveness Act of 2011

A bill to amend the Internal Revenue Code of 1986 to reduce international tax avoidance and restore a level playing field for American businesses. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to reduce international tax avoidance and restore a level playing field for American businesses. as introduced.
  • Short: International Tax Competitiveness Act of 2011 as introduced.

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Introduced
 
Senate
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House
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President
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07/14/11
 
 
 
 
 
 
 

Official Summary

International Tax Competitiveness Act of 2011 - Amends the Internal Revenue Code to: (1) treat foreign corporations that are managed, directly or indirectly, within the United States as domestic corporations for U.S. income tax purposes; (2) make certain royalty income and income from intan

Official Summary

International Tax Competitiveness Act of 2011 - Amends the Internal Revenue Code to:
(1) treat foreign corporations that are managed, directly or indirectly, within the United States as domestic corporations for U.S. income tax purposes;
(2) make certain royalty income and income from intangibles received from a controlled foreign corporation subject to U.S. taxation; and
(3) revise the tax treatment of property other than stock (i.e., boot) received in connection with a corporate reorganization to provide that such property shall be treated as a taxable dividend.

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