Sec. 4203. Inflation adjustment of de minimis exception for foreign base company income
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/bill/115/hr/1/eh/section-4203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 954(b)(3) is amended by adding at the end the following new subparagraph: In the case of any taxable year beginning after 2017, the dollar amount in subparagraph (A)(ii) shall be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(c)(2)(A) for the calendar year in which the taxable year begins. Any increase determined under the preceding sentence shall be rounded to the nearest multiple of $50,000. .
The amendments made by this section shall apply to taxable years of foreign corporations beginning after December 31, 2017, and to taxable years of United States shareholders in which or with which such taxable years of foreign corporations end.