legislation: 113-hr-5444

Congressional bills and resolutions from Congress.gov, filtered to policy areas relevant to environmental, health, agriculture, and wildlife regulation.

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
113-hr-5444 113 hr 5444 Corporate Fair Share Tax Act Taxation 2014-09-10 2014-09-10 Referred to the House Committee on Ways and Means. House Rep. Pocan, Mark [D-WI-2] WI D P000607 1 Corporate Fair Share Tax Act - Amends the Internal Revenue Code to limit the tax deduction of the interest expense of a U.S. corporation that is a member of a financial reporting group (a group that prepares consolidated financial statements according to accepted accounting principles or international financial reporting standards) to: (1) the amount of interest on indebtedness of the corporation includible in the corporation's gross income for the taxable year plus its proportionate share of the group's net interest expense in the taxable year; or (2) 10% of the corporation's adjusted taxable income, if the corporation fails to substantiate its proportionate share of interest expense. Exempts a corporation that is predominantly engaged in the active conduct of a banking, financing, or similar business or that has less than $5 million of net interest expense for the taxable year. 2023-01-11T13:25:38Z  

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