United States · Bill · S
S. 3357 (95th)
A bill to amend the Internal Revenue Code of 1954 with respect to punitive damages received by private litigants under the Clayton Act.
Introduced
31 July 1978
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
1 August 2024
Summary
Amends the Internal Revenue Code to exclude from gross income punitive damages (two-thirds of antitrust treble damages) received by a private antitrust litigant, if such litigant brings suit against a particular defendant before the Federal Government institutes criminal proceedings. Disallows tax deductions for antitrust punitive damages paid or incurred by a taxpayer.
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 31 July 1978
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/95th-congress/senate-bill/3357
- Open data entity: https://api.congress.gov/v3/bill/95/s/3357