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S. 2360

Stop Corporate Inversions Act of 2014

Stop Corporate Inversions Act of 2014 - 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 during the period beginning after May 8, 2014, and before May 9, 2016, a foreign corporation that acquires the properties of a U.S. corporation or partnership 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.

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3188-31889)

Sen. Levin, Carl [D-MI](D-MI)Sponsor
22 cosponsors21 D1 I
22cosponsors1committees3actions4related bills6subjects
  • Introduced in SenateMay 20, 2014
  1. IntroReferral

    Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3188-31889)

  2. IntroReferralB00100

    Sponsor introductory remarks on measure. (CR S3188-3189)

  3. IntroReferral10000

    Introduced in Senate

Stop Corporate Inversions Act of 2014 — Informed