S.198 - Stop Corporate Inversions Act of 2015114th Congress (2015-2016) |
| Sponsor: | Sen. Durbin, Richard [D-IL] (Introduced 01/20/2015) |
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| Committees: | Senate - Finance |
| Latest Action: | 01/20/2015 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S286) (All Actions) |
Tracker:
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Subject — Policy Area:
- Taxation
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Summary (1)
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Text (1)
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Actions (1)
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Titles (2)
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Amendments (0)
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Cosponsors (15)
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Committees (1)
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Related Bills (7)
Summary: S.198 — 114th Congress (2015-2016)All Bill Information (Except Text)
There is one summary for S.198. Bill summaries are authored by CRS.
Shown Here:
Introduced in Senate (01/20/2015)
Stop Corporate Inversions Act of 2015
Amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.