Corporate Inverters Earnings Stripping Reform Act of 2014

Summary

Corporate Inverters Earnings Stripping Reform Act of 2014 - Amends the Internal Revenue Code to impose limitations on the tax deduction for interest paid by corporations which are designated as applicable entities (i.e., members of an expanded affiliated group which includes a surrogate foreign corporation which is not treated as a domestic corporation). Prohibits such an entity from claiming a tax deduction for interest that exceeds 25% of its adjusted taxable income and from carrying forward interest which is paid or accrued during the first year in which such entity becomes an applicable entity. Requires an applicable entity to file an annual application for an approval agreement (i.e., a prefiling, advance pricing, or other agreement involving a related-party transaction) with the Internal Revenue Service (IRS) during the 10-year period after it becomes an applicable entity.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 10 September 2014

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 10 September 2014

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 10 September 2014 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 September 2014

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 September 2014

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in Senate

  summary · EN · 10 September 2014

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Durbin, Richard J. [D-IL] · D · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Coons, Christopher A. [D-DE] · D · Sponsor
• Sen. Rockefeller, John D., IV [D-WV] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Baldwin, Tammy [D-WI] · D · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Nelson, Bill [D-FL] · D · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.