To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

USA117^th CongressHR-2031| House

| Updated: 3/18/2021

This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill defines intangible property to include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.

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Taxation

Intellectual propertyTaxation of foreign income

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

USA117^th CongressHR-2031| House

| Updated: 3/18/2021

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Darin LaHood

Republican Representative

Illinois

Cosponsors (1)

A. Drew Ferguson (Republican)

Ways and Means Committee

Taxation

Introduced
In Committee
On Floor
Passed Chamber
Enacted

Intellectual propertyTaxation of foreign income

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

Suggested Questions

Darin LaHood

Ways and Means Committee

Taxation

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

Suggested Questions

Taxation

To amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders.

Suggested Questions

Darin LaHood

Ways and Means Committee

Taxation