S.1617 - A bill to amend the Internal Revenue Code of 1986 with respect to the allocation of research and experimental expenditures.100th Congress (1987-1988)
|Sponsor:||Sen. Wallop, Malcolm [R-WY] (Introduced 08/06/1987)|
|Committees:||Senate - Finance|
|Latest Action:||08/06/1987 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1617 — 100th Congress (1987-1988)All Information (Except Text)
Introduced in Senate (08/06/1987)
Amends the Internal Revenue Code to increase from 50 percent to 67 percent the amount of research and development expenditures that a company must allocate to income from sources within the United States. Establishes a special rule for the qualified research and experimental expenditures required by governmental entities.
Requires companies to report on a consolidated basis with respect to the expenditures associated with this source rule.