Summary: H.R.4993 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.4993. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/21/2002)

No Tax Breaks for Corporations Renouncing America Act of 2002 - Amends the Internal Revenue Code to deny a foreign entity any reduced rate of withholding tax on any deductible foreign payment under any income tax treaty between the United States and the entity's country unless the entity is predominantly owned by residents of such country. Excepts specified conduit payments. Specifies what constitutes predominant ownership.