A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations.
Stop Corporate Inversions Act of 2015
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) to provide 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.
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance.
Referred to the Subcommittee on Research and Technology.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S286)
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