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Real Corporate Profits Tax Act of 2021

USA117th CongressHR-4940| House 
| Updated: 8/6/2021
Donald S. Beyer

Donald S. Beyer

Democratic Representative

Virginia

Cosponsors (1)
Katie Porter (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Real Corporate Profits Tax Act of 2021 This bill imposes an additional 7% tax on the adjusted net book income of a corporation that exceeds $100 million. It also allows a credit for a taxpayer, other than an S corporation, for a specified percentage of the taxpayer's net regular tax liability.
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Timeline
Aug 6, 2021
Introduced in House
Aug 6, 2021
Referred to the House Committee on Ways and Means.
Aug 9, 2021

Latest Companion Bill Action

S 117-2680
Introduced in Senate
  • August 6, 2021
    Introduced in House


  • August 6, 2021
    Referred to the House Committee on Ways and Means.


  • August 9, 2021

    Latest Companion Bill Action

    S 117-2680
    Introduced in Senate

Taxation

Related Bills

  • S 117-2680: Real Corporate Profits Tax Act of 2021
Accounting and auditingCorporate finance and managementIncome tax creditsIncome tax ratesTax administration and collection, taxpayers

Real Corporate Profits Tax Act of 2021

USA117th CongressHR-4940| House 
| Updated: 8/6/2021
Real Corporate Profits Tax Act of 2021 This bill imposes an additional 7% tax on the adjusted net book income of a corporation that exceeds $100 million. It also allows a credit for a taxpayer, other than an S corporation, for a specified percentage of the taxpayer's net regular tax liability.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Aug 6, 2021
Introduced in House
Aug 6, 2021
Referred to the House Committee on Ways and Means.
Aug 9, 2021

Latest Companion Bill Action

S 117-2680
Introduced in Senate
  • August 6, 2021
    Introduced in House


  • August 6, 2021
    Referred to the House Committee on Ways and Means.


  • August 9, 2021

    Latest Companion Bill Action

    S 117-2680
    Introduced in Senate
Donald S. Beyer

Donald S. Beyer

Democratic Representative

Virginia

Cosponsors (1)
Katie Porter (Democratic)

Ways and Means Committee

Taxation

Related Bills

  • S 117-2680: Real Corporate Profits Tax Act of 2021
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingCorporate finance and managementIncome tax creditsIncome tax ratesTax administration and collection, taxpayers