H.R.199 - Income Equity Act of 2013

To amend the Internal Revenue Code of 1986 to limit the deductibility of excessive rates of executive compensation. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to limit the deductibility of excessive rates of executive compensation. as introduced.
  • Short: Income Equity Act of 2013 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/04/13
 
 
 
 
 
 
 

Official Summary

Income Equity Act of 2013- Amends the Internal Revenue Code to: (1) deny employers a tax deduction for payments of excessive compensation to any full-time employee (i.e., compensation for services exceeding the greater of 25 times the lowest compensation paid to any other employee or $500,0

Official Summary

Income Equity Act of 2013- Amends the Internal Revenue Code to:
(1) deny employers a tax deduction for payments of excessive compensation to any full-time employee (i.e., compensation for services exceeding the greater of 25 times the lowest compensation paid to any other employee or $500,000), and
(2) require such employers to file a report with the Secretary of the Treasury on excessive compensation (as defined by this Act) paid to their employees. Defines \"compensation\" to include wages, salary, deferred compensation, retirement contributions, options, bonuses, property, and other forms of compensation.

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