HR 4940
117th Congress
House
Taxation
Accounting and auditing
Corporate finance and management
Income tax credits
Income tax rates
Tax administration and collection, taxpayers
Real Corporate Profits Tax Act of 2021
Introduced: August 6, 2021
Introduced by:
Beyer, Donald S.
Democratic
· Virginia
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 6, 2021
Referred to the House Committee on Ways and Means.
Aug 6, 2021
Introduced in House
Plain-English summary
Real Corporate Profits Tax Act of 2021
This bill imposes an additional 7% tax on the adjusted net book income of a corporation that exceeds $100 million. It also allows a credit for a taxpayer, other than an S corporation, for a specified percentage of the taxpayer's net regular tax liability.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1