Summary: H.R.2748 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.2748. Bill summaries are authored by CRS.

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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.