A bill to amend the Internal Revenue Code of 1986 to allow employers a credit against income tax for the provision of independent investment advice to employees.

Summary

Amends the Internal Revenue Code to give employers a tax credit of 40% (60% in the case of a small employer) of the qualified independent investment advice services they provide in a taxable year to their employees. Limits to $50 the amount of services which may be taken into account annually per employee per firm and sets an annual maximum limit of $50,000 (when added to such credits allowed for all previous years) per employer. Stipulates that investment advice shall not be considered valid unless such services are offered in a way that does not discriminate in favor of highly compensated employees.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 April 2002

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 April 2002

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 10 April 2002

  Open at official source

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