To amend the Internal Revenue Code of 1986 to treat nominally foreign corporations created through inversion transactions as domestic corporations.

Fact Sheet API

Bill Number

HR 3857

Introduced

Mar 6, 2002

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Business income tax Commerce Corporate management Corporation taxes Foreign corporations Foreign Trade and International Finance Income tax Stocks Tax havens Taxation Taxation of foreign income

Full Text

View Full Bill Text

Votes

Summary

Amends the Internal Revenue Code by treating as domestic corporations foreign corporations created through inversion transactions. Defines "inverted domestic corporation." Sets forth a lower stock ownership test which will render certain corporations meeting the test inverted domestic corporations.

Actions

Mar 6, 2002

Referred to the House Committee on Ways and Means.
Mar 6, 2002

Introduced in House

Amendments

Related Bills