S 250
113th Congress
Senate
Taxation
Corporate finance and management
Foreign and international corporations
Income tax credits
Income tax deferral
Oil and gas
Tax administration and collection, taxpayers
Taxation of foreign income
Corporate Tax Dodging Prevention Act
Introduced: February 7, 2013
Introduced by:
Sanders, Bernard
Independent
· Vermont
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 7, 2013
Read twice and referred to the Committee on Finance.
Feb 7, 2013
Introduced in Senate
Plain-English summary
Corporate Tax Dodging Prevention Act - Amends the Internal Revenue Code, with respect to the taxation of the foreign-source income of domestic corporations, to: (1) eliminate the deferral of tax on the foreign-source income of U.S. corporations for taxable years beginning after December 31, 2013, (2) deny the foreign tax credit to large integrated oil companies that are dual capacity taxpayers, (3) limit the offset of the foreign tax credit to income that is subject to U.S. tax, and (4) treat foreign corporations managed and controlled in the United States as domestic corporations for U.S. tax purposes.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1