To amend the Internal Revenue Code of 1986 to provide that management and administrative activities will not be taken into account in determining if an entity has sufficient business activities in a foreign country to avoid treatment as an expatriated entity.
Last action on Jun 28, 2007Referred to the House Committee on Ways and Means.
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Summary
Amends Internal Revenue Code provisions defining expatriated business entities to exclude any management or administrative activities conducted by such entities in a foreign country in determining expatriate status for income tax purposes.
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