Summary: H.R.3775 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.3775. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (11/14/1991)

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. Requires such determinations to include, in the case of a film produced for theatrical or television exhibition, estimated income from subsequent television exhibition or syndication. 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.