Employee Profit-Sharing Encouragement Act of 2023

Summary

Employee Profit-Sharing Encouragement Act of 2023 This bill denies the business tax deduction for the remuneration of highly-compensated corporate employees unless the corporation has average annual gross receipts of less than $25 million and maintains a plan for making qualified profit-sharing distributions to its employees. The bill defines qualified profit-sharing distributions as cash distributions under a written employer plan that gives employees who have been employed for at least one year a right to profit-sharing distributions and bases the amount of such distributions on the measure of the receipts, profit, revenues, or earnings of the employer.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 April 2023

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• Introduced in House (PDF)

  Introduced in House · EN · 13 April 2023

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• Introduced in House

  summary · EN · 13 April 2023

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