Tax Credit Restoration Act of 2021

United States117th CongressHR-4639House of Representatives
Updated: Jul 22, 2021

Summary

Tax Credit Restoration Act of 2021 This bill requires the calculation of the base erosion minimum tax amount without regard to any offsetting credits. The base erosion and anti-abuse tax is levied on certain large corporations with deductions for amounts paid or accrued to foreign-related parties that are greater than 3% of their total deductions (2% in the case of certain banks or registered securities dealers).

Bill texts

Available versions
Introduced (House)View official text

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Timeline

  1. Introduced in House

  2. Referred to the House Committee on Ways and Means.

    House of Representatives

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