H.R.4561 - A bill to amend the Internal Revenue Code with respect to the tax treatment of certain shipping income.98th Congress (1983-1984)
|Sponsor:||Rep. Shannon, James M. [D-MA-5] (Introduced 11/18/1983)|
|Committees:||House - Ways and Means|
|Latest Action:||06/27/1984 See H.R.4170. (All Actions)|
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Summary: H.R.4561 — 98th Congress (1983-1984)All Information (Except Text)
Introduced in House (11/18/1983)
Amends the Internal Revenue Code to set forth source of income rules for the tax treatment of shipping income. Provides that: (1) all shipping income attributable to transportation between two ports located in the United States shall be treated as derived from sources within the United States; and (2) 50 percent of all U.S. connected shipping income shall be treated as derived from sources within the United States.
Defines "United States shipping income" and "shipping income" for purposes of this Act.