Help Our Businesses Recover Act of 2021 This bill eliminates, for taxable years ending in 2020, the base erosion minimum tax rate applicable to certain large corporations that have deductions with respect to amounts paid or accrued to foreign-related parties exceeding 3% of their total deductions.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Income tax rates
Help Our Businesses Recover Act of 2021
USA117th CongressHR-4320| House
| Updated: 7/1/2021
Help Our Businesses Recover Act of 2021 This bill eliminates, for taxable years ending in 2020, the base erosion minimum tax rate applicable to certain large corporations that have deductions with respect to amounts paid or accrued to foreign-related parties exceeding 3% of their total deductions.