H.R.2748 - To amend the Internal Revenue Code of 1986 to require recomputations of depreciation determined under the income forecast method, and for other purposes.102nd Congress (1991-1992)
|Sponsor:||Rep. Donnelly, Brian J. [D-MA-11] (Introduced 06/25/1991)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 06/25/1991 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2748 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (06/25/1991)
Amends the Internal Revenue Code to require taxpayers who determine depreciation under the income forecast method to pay interest under the look-back method for any recomputation year. Establishes a formula for such recomputations to recapture foregone tax revenues.
Provides for taxing certain rents and royalties paid to foreign subsidiaries as foreign personal holding company income.