To amend the Internal Revenue Code of 1986 to provide that the deemed sale rules shall apply in the case of hostile stock purchases and to deny any deduction for interest incurred in connection with a hostile stock purchase.
Corporate Raider Tax Act of 1989 - Amends the Internal Revenue Code to require that a hostile stock purchase in a corporate takeover attempt be treated as an asset acquisition by the purchasing corporation.
Disallows an income tax deduction for interest on any indebtedness incurred or continued by a purchasing shareholder to purchase or carry corporate stock or assets acquired through a hostile purchase.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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