United States · Bill · S
S. 1185 (116th)
No Tax Write-offs for Corporate Wrongdoers Act
Introduced
11 April 2019
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
Summary
No Tax Write-offs for Corporate Wrongdoers Act This bill denies a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action. The bill also requires the gross income of a taxpayer to include any amount paid to or on behalf of the taxpayer as insurance or otherwise by reason of the taxpayer's liability (or agreement) to pay punitive damages.
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 11 April 2019
Introduced in Senate (PDF)
Introduced in Senate · EN · 11 April 2019
Introduced in Senate
summary · EN · 11 April 2019
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/1185
- Open data entity: https://api.congress.gov/v3/bill/116/s/1185