World Trade Center Zone Tax Incentive Act

The World Trade Center Zone Tax Incentive Act was designed to encourage international companies to relocate their headquarters to the "New York Liberty Zone" in Lower Manhattan following the September 11 attacks. Under this bill, eligible foreign corporations that moved their headquarters to this specific area would have their local business activities treated as occurring outside the United States for certain tax purposes. This would have allowed these companies to avoid specific federal taxes and withholding requirements, effectively creating a financial incentive to help rebuild the economic base of the district.