A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on stock buybacks of publicly traded corporations.
Stock Buyback Accountability Act of 2021
This bill imposes a 2% excise tax on the value of any stock of certain publicly-traded domestic and foreign corporations repurchased (i.e., redeemed) by such corporations. The bill allows exemptions from the tax for repurchases that are part of a reorganization, for repurchased stock that is contributed to an employer-sponsored retirement plan or employee stock ownership plan, for repurchased stock whose value does not exceed $1 million, and for repurchases treated as dividends.
Became Public Law No: 117-169.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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