US SB169 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 13 2015 - 25% progression, died in committee
Action: 2015-01-13 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S204-205)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 13 2015 - 25% progression, died in committee
Action: 2015-01-13 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S204-205)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
No Tax Write-offs for Corporate Wrongdoers Act Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action; and (2) include any amount paid as punitive damages in gross income for income tax purposes.
Title
No Tax Write-offs for Corporate Wrongdoers Act
Sponsors
| Sen. Patrick Leahy [D-VT] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-13 | Senate | Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S204-205) |
Subjects
Civil actions and liability
Competition and antitrust
Income tax deductions
Income tax exclusion
Life, casualty, property insurance
Taxation
Competition and antitrust
Income tax deductions
Income tax exclusion
Life, casualty, property insurance
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/senate-bill/169/all-info |
| Text | https://www.congress.gov/114/bills/s169/BILLS-114s169is.pdf |
