SUBTITLE B. UNINCORPORATED BUSINESS FRANCHISE TAX

Sec. 7011. Short title.

This subtitle may be cited as the "Unincorporated Business Franchise Tax Amendment Act of 2020".

Sec. 7012. Section 47-1808.02(1) of the District of Columbia Official Code is amended by striking the phrase "Internal Revenue Code of 1986." and inserting the phrase "Internal Revenue Code of 1986. Taxable income shall include gain from the sale or other disposition of any assets, including tangible assets and intangible assets, including real property and interests in real property, in the District, even when such a sale or other disposition results in the termination of an unincorporated business." in its place.

Sec. 7013. Applicability.

This subtitle shall apply as of January 1, 2021.