Sponsor: CHURCH, Frank Forrester (D-ID)
Description: TO AGREE TO RESERVATION #1 TO THE RESOLUTION OF RATIFICATION OF THE UNITED STATES-UNITED KINGDOM TAX TREATY, EXECUTIVE K, 94TH CONGRESS, SECOND SESSION, AND OF TWO PROTOCOLS (EXECUTIVE Q, 94TH CONGRESS, SECOND SESSION, AND EXECUTIVE J, 95TH CONGRESS, FIRST SESSION). THE CHURCH RESERVATION ALLOWS THE STATES TO USE A FORMULA THAT TAKES INTO ACCOUNT A BRITISH CORPORATION'S WORLDWIDE ASSETS IN THE DETERMINATION OF THAT CORPORATION'S TAX LIABILITY TO EACH STATE.
Original source documents: Digest of the Congressional Record vol. 124-97, p. 9564;