Permanent CFC Look-Through Act of 2014

Permanent CFC Look-Through Act of 2014 - Amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4464 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4464

 To amend the Internal Revenue Code of 1986 to make permanent the look-
   through treatment of payments between related controlled foreign 
                             corporations.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 10, 2014

Mr. Boustany (for himself, Mr. Kind, Mr. Reed, Mr. Schock, Ms. Jenkins, 
   Mr. Tiberi, Mr. Pascrell, Mr. Larson of Connecticut, Mr. Young of 
Indiana, Mr. Matheson, and Mr. Crowley) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to make permanent the look-
   through treatment of payments between related controlled foreign 
                             corporations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LOOK-THROUGH TREATMENT OF PAYMENTS BETWEEN RELATED 
              CONTROLLED FOREIGN CORPORATIONS MADE PERMANENT.

    (a) In General.--Paragraph (6) of section 954(c) of the Internal 
Revenue Code of 1986 is amended by striking subparagraph (C).
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years of foreign corporations beginning after December 31, 
2013, and to taxable years of United States shareholders with or within 
which such taxable years of foreign corporations end.
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