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Stop Corporate Inversions Act of 2019

USA116th CongressS-2140| Senate 
| Updated: 7/17/2019
Richard J. Durbin

Richard J. Durbin

Democratic Senator

Illinois

Cosponsors (12)
Mazie K. Hirono (Democratic)Tammy Duckworth (Democratic)Dianne Feinstein (Democratic)Patrick J. Leahy (Democratic)Jack Reed (Democratic)Elizabeth Warren (Democratic)Sheldon Whitehouse (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Tammy Baldwin (Democratic)Jeff Merkley (Democratic)Richard Blumenthal (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Stop Corporate Inversions Act of 201 9 This bill amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States). The bill provides that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.
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Timeline
Jul 17, 2019
Introduced in Senate
Jul 17, 2019
Read twice and referred to the Committee on Finance. (text: CR S4911-4912)
  • July 17, 2019
    Introduced in Senate


  • July 17, 2019
    Read twice and referred to the Committee on Finance. (text: CR S4911-4912)

Taxation

Related Bills

  • S 116-2139: American Business for American Companies Act of 2019
  • S 116-780: No Tax Breaks for Outsourcing Act
  • HR 116-1711: No Tax Breaks for Outsourcing Act
  • S 116-779: Stop Tax Haven Abuse Act
  • HR 116-1712: Stop Tax Haven Abuse Act
Administrative law and regulatory proceduresCorporate finance and managementDepartment of the TreasuryForeign and international corporationsIncome tax ratesTaxation of foreign income

Stop Corporate Inversions Act of 2019

USA116th CongressS-2140| Senate 
| Updated: 7/17/2019
Stop Corporate Inversions Act of 201 9 This bill amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States). The bill provides that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.
View Full Text

Suggested Questions

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Timeline
Jul 17, 2019
Introduced in Senate
Jul 17, 2019
Read twice and referred to the Committee on Finance. (text: CR S4911-4912)
  • July 17, 2019
    Introduced in Senate


  • July 17, 2019
    Read twice and referred to the Committee on Finance. (text: CR S4911-4912)
Richard J. Durbin

Richard J. Durbin

Democratic Senator

Illinois

Cosponsors (12)
Mazie K. Hirono (Democratic)Tammy Duckworth (Democratic)Dianne Feinstein (Democratic)Patrick J. Leahy (Democratic)Jack Reed (Democratic)Elizabeth Warren (Democratic)Sheldon Whitehouse (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Tammy Baldwin (Democratic)Jeff Merkley (Democratic)Richard Blumenthal (Democratic)

Finance Committee

Taxation

Related Bills

  • S 116-2139: American Business for American Companies Act of 2019
  • S 116-780: No Tax Breaks for Outsourcing Act
  • HR 116-1711: No Tax Breaks for Outsourcing Act
  • S 116-779: Stop Tax Haven Abuse Act
  • HR 116-1712: Stop Tax Haven Abuse Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresCorporate finance and managementDepartment of the TreasuryForeign and international corporationsIncome tax ratesTaxation of foreign income