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S. 2680 117th Congress Senate

Real Corporate Profits Tax Act of 2021

Official title: A bill to amend the Internal Revenue Code of 1986 to impose a tax on real profits of certain corporations.

Introduced: August 9, 2021 Introduced by: Elizabeth Warren Democratic · Massachusetts See on congress.gov
Taxation Accounting and auditingCorporate finance and managementIncome tax creditsIncome tax ratesTax administration and collection, taxpayers
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 9, 2021
Read twice and referred to the Committee on Finance.
Aug 9, 2021
Introduced in Senate
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 Latest action August 9, 2021

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • HR 4940 Identical bill Real Corporate Profits Tax Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 3 Independent 1
I
King, Angus S., Jr.
Maine · Aug 9, 2021
 D
Markey, Edward J.
Massachusetts · Aug 9, 2021
 D
Merkley, Jeff
Oregon · Aug 9, 2021
 D
Whitehouse, Sheldon
Rhode Island · Aug 9, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2680: Real Corporate Profits Tax Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-2680/
MLA
"S. 2680: Real Corporate Profits Tax Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-2680/.
Bluebook (legal)
S. 2680, 117th Cong. (2026), https://openamerica.io/bill/117-S-2680/.
Markdown link
[S. 2680: Real Corporate Profits Tax Act of 2021](https://openamerica.io/bill/117-S-2680/)
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