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Corporate EXpatriates and Inverters Tax Fairness Act or the Corporate EXIT Fairness Act This bill amends the Internal Revenue Code to set forth rules governing corporate inversions (i.e., the practice of relocating a domestic corporation's legal domicile to a lower-tax nation while retaining its business activities in the higher-tax country of origin) and corporate expatriations. Specifically, the bill requires payment of tax on the deferred overseas profits of U.S. multinational corporations or partnerships before they reincorporate or organize in a foreign country. Additionally, any stock of a controlled foreign corporation in connection with a corporate expatriation would be treated as sold for its fair market value as of the date of expatriation and be subject to U.S. taxation. The bill expands the definitions of "corporate inversion" and "corporate expatriation" and revises rules relating to the taxation of inverted corporations. A foreign corporation that acquires the assets of a U.S. corporation or partnership after January 4, 2017, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) the expanded affiliated group which includes the foreign corporation does not have substantial business activities in the foreign country in which the corporation is created or organized, when compared to the total business activities of such expanded affiliated group; and (2) more than 50% of the foreign corporation is held by former shareholders or partners of the domestic corporation or partnership, or the management or control of the expanded affiliated group occurs primarily within the United States, and such expanded affiliated group has significant domestic business activities.
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Filing registrants (2)
2018 · second_quarter · Taxation/Internal Revenue Code
Issues related to offshore tax haven abuse and tax transparency H.R. 5108 / S. 2459, No Tax Breaks for Outsourcing Act H.R. 5145, Close Tax Loopholes That Outsource American Jobs Act S. 851 / H.R. 1932, Stop Tax Haven Abuse Act of 2017 H.R. 2057, Tax Fairness and Transparency Act of 2017 H.R. 3434 / S. 1636, Stop Corporate Inversions Act of 2017 H.R. 1931, Corporate EXIT Fairness Act H.R. 1451 / S. 586, Corporate Tax Dodging Prevention Act S. 1673, Pay What You Owe Before You Go Act H.R. 2054 / S.869 - A bill to repeal the violation of sovereign nations' laws and privacy matters H.R. 1669, Partnership to Build America Act H.R. 1670, Infrastructure 2.0 Act S. 2885, Disclosing Pharmaceutical Company Windfall Profits Act of 2018 H.R. 6015, Per-Country Minimum Act
Referred to the House Committee on Ways and Means.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $10,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Federal Bureau of Investigation (FBI), Financial Crimes Enforcement Network (FinCEN), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Natl Security Council (NSC), Office of Natl Drug Control Policy (NDCP), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Agency for International Development (USAID)
2018 · first_quarter · Taxation/Internal Revenue Code
Issues related to offshore tax haven abuse and tax transparency H.R. 5108 / S. 2459, No Tax Breaks for Outsourcing Act H.R. 5145, Close Tax Loopholes That Outsource American Jobs Act S. 851 / H.R. 1932, Stop Tax Haven Abuse Act of 2017 H.R. 2057, Tax Fairness and Transparency Act of 2017 H.R. 3434 / S. 1636, Stop Corporate Inversions Act of 2017 H.R. 1931, Corporate EXIT Fairness Act H.R. 1451 / S. 586. Corporate Tax Dodging Prevention Act S. 1673, Pay What You Owe Before You Go Act H.R.2054 / S.869 - A bill to repeal the violation of sovereign nations' laws and privacy matters H.R. 1669, Partnership to Build America Act H.R. 1670. Infrastructure 2.0 Act
Client expense: $10,000 · Firm income: Not reported
Government targets: Federal Bureau of Investigation (FBI), Financial Crimes Enforcement Network (FinCEN), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Office of Natl Drug Control Policy (NDCP), SENATE, State, Dept of (DOS), Treasury, Dept of
2017 · fourth_quarter · Taxation/Internal Revenue Code
HR 1- Impact of tax bill on Medicare/Medicaid/ACA/State budgets HR 1- Tax cuts and Jobs Act HR 173, S 58- Excise tax on high cost health plans HR 798- Child Tax Credit Equity for Puerto Rico Act of 2017 Stop Corporate Tax Inversions Act HR 2306- Wall Street Speculation Tax, including Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act HR 1144, S 805- Inclusive Prosperity Act S 1020, HR 2295- Carried Interest Fairness Act HR 399, S 82- Stop Subsidizing Multimillion Corporate Bonus Act S 586- Corporate Tax Dodging Prevention Act HR 1931- Corporate Exit Fairness Act HR 1932, S 851- Stop Tax Haven Abuse Act Corporate tax, including rates, loopholes, revenue Deferral, Repatriation tax rate, related requirements Tax on international firms, territorial (e.g. Schumer-Portman International Tax Plan) HR 685, S 247- Bring Jobs Home Act S 1636, HR 3434- Tax on inverted firms, including Stop Corporate Inversions Act S 1777- Corporate Responsibility Fee Act of 2017 S 1778, HR 3925- Patriot Employer Tax Credit Act Federal Contracting restrictions related to Inversion Tax Status of Businesses S 707, HR 116- Main Street Fairness Act, Pass through income HRes 186- Presidential Tax Return Disclosure HR 305, S 26- Presidential Tax Transparency Act S 1371- Earned Income Tax Credit, including Working Families Tax Relief Act Child Tax Credit Federal tax reform impact on state and local government revenues, including State and Local Tax Deduction HR 2193, S 976- Remote Transactions Parity Act of 2017, Marketplace Fairness Act of 2017, and broader proposals for state and local tax on internet/remote sales Federal income tax exclusion for interest on state and local government public purpose bonds Digital Goods and Services Tax Fairness Act Business Activity Tax Simplification Act Wireless Tax Fairness Act HR 1393- Mobile Workforce State Income Tax Simplification Act of 2017 Puerto Rico Earned Income Tax Credit and Child Tax Credit Parity with states
Client expense: $560,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, State, Dept of (DOS), U.S. Trade Representative (USTR), White House Office
2017 · fourth_quarter · Taxation/Internal Revenue Code
HR 1- Impact of tax bill on Medicare/Medicaid/ACA/State budgets HR 1- Tax cuts and Jobs Act HR 173, S 58- Excise tax on high cost health plans HR 798- Child Tax Credit Equity for Puerto Rico Act of 2017 Stop Corporate Tax Inversions Act HR 2306- Wall Street Speculation Tax, including Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act HR 1144, S 805- Inclusive Prosperity Act S 1020, HR 2295- Carried Interest Fairness Act HR 399, S 82- Stop Subsidizing Multimillion Corporate Bonus Act S 586- Corporate Tax Dodging Prevention Act HR 1931- Corporate Exit Fairness Act HR 1932, S 851- Stop Tax Haven Abuse Act Corporate tax, including rates, loopholes, revenue Deferral, Repatriation tax rate, related requirements Tax on international firms, territorial (e.g. Schumer-Portman International Tax Plan) HR 685, S 247- Bring Jobs Home Act S 1636, HR 3434- Tax on inverted firms, including Stop Corporate Inversions Act S 1777- Corporate Responsibility Fee Act of 2017 S 1778, HR 3925- Patriot Employer Tax Credit Act Federal Contracting restrictions related to Inversion Tax Status of Businesses S 707, HR 116- Main Street Fairness Act, Pass through income HRes 186- Presidential Tax Return Disclosure HR 305, S 26- Presidential Tax Transparency Act S 1371- Earned Income Tax Credit, including Working Families Tax Relief Act Child Tax Credit Federal tax reform impact on state and local government revenues, including State and Local Tax Deduction HR 2193, S 976- Remote Transactions Parity Act of 2017, Marketplace Fairness Act of 2017, and broader proposals for state and local tax on internet/remote sales Federal income tax exclusion for interest on state and local government public purpose bonds Digital Goods and Services Tax Fairness Act Business Activity Tax Simplification Act Wireless Tax Fairness Act HR 1393- Mobile Workforce State Income Tax Simplification Act of 2017 Puerto Rico Earned Income Tax Credit and Child Tax Credit Parity with states
Client expense: $560,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, State, Dept of (DOS), U.S. Trade Representative (USTR), White House Office
2017 · third_quarter · Taxation/Internal Revenue Code
HR 1628, and amendments to HR 1628, including Graham-Cassidy-Heller-Johnson amendment, American Health Care Act of 2017, Better Care Reconciliation Act, net investment income tax on high earners, Medicare tax, tax on medical device tax manufacturers, 40% tax on employer-sponsored high-cost health plans "Skinny bill" to repeal the Affordable Care Act (ACA) HR 173, S 58- Excise tax on high-cost health plans S 148, HR 895- Educational Opportunities Act HR 798- Child Tax Credit Equity for Puerto Rico Act of 2017 Tax reform, general Stop Corporate Tax Inversions Act HR 2306- Wall Street Speculation Tax, including Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act HR 1144, S 805- Inclusive Prosperity Act S 1020, HR 2295- Carried Interest Fairness Act HR 399, S 82- Stop Subsidizing Multimillion Corporate Bonus Act S 586- Corporate Tax Dodging Prevention Act HR 2887- No Regulation Without Representation Act HR 1931- Corporate Exit Fairness Act HR 1932- Stop Tax Haven Abuse Act Corporate tax, including rates, loopholes, revenue Deferral, Repatriation tax rate, related requirements Tax on international firms, territorial (e.g. Schumer-Portman International Tax Plan) HR 685, S 247- Bring Jobs Home Act S 1636, HR 3434- Tax on inverted firms, including Stop Corporate Inversions Act S 1777- Corporate Responsibility Fee Act of 2017 S 1778- Patriot Employer Tax Credit Act Federal Contracting restrictions related to Inversion Tax Status of Businesses S 708, HR 116- Main Street Fairness Act, Pass through income HRes 186- Presidential Tax Return Disclosure HR 305, S 26- Presidential Tax Transparency Act S 1371- Earned Income Tax Credit, including Working Families Tax Relief Act Child Tax Credit Federal tax reform impact on state and local government revenues, including State and Local Tax Deduction HR 2193, S 976- Marketplace Fairness Act of 2017, and broader proposals for state and local tax on internet/remote sales Federal income tax exclusion for interest on state and local government public purpose bonds Digital Goods and Services Tax Fairness Act Business Activity Tax Simplification ACt Wireless Tax Fairness Act HR 1393, S 540- Mobile Workforce State Income Tax Simplification Act of 2017 Puerto Rico Earned Income Tax Credit and Child Tax Credit Parity with States
Client expense: $600,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, State, Dept of (DOS), U.S. Trade Representative (USTR), White House Office
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| NJ |
| Bonnie Watson Coleman | Democratic | NJ |
| Carol Shea-Porter | Democratic | NH |
| Chellie Pingree | Democratic | ME |
| Daniel Lipinski | Democratic | IL |
| Daniel T. Kildee | Democratic | MI |
| Danny K. Davis | Democratic | IL |
| David Loebsack | Democratic | IA |
| David N. Cicilline | Democratic | RI |
| Donald M. Payne, Jr. | Democratic | NJ |
| Earl Blumenauer | Democratic | OR |
| Eddie Bernice Johnson | Democratic | TX |
| Eleanor Holmes Norton | Democratic | DC |
| Elijah E. Cummings | Democratic | MD |
| Gene Green | Democratic | TX |
| Grace F. Napolitano | Democratic | CA |
| Gwen Moore | Democratic | WI |
| Henry C. "Hank" Johnson, Jr. | Democratic | GA |
| Jamie Raskin | Democratic | MD |
| Janice D. Schakowsky | Democratic | IL |
| Jerrold Nadler | Democratic | NY |
| John A. Yarmuth | Democratic | KY |
| John B. Larson | Democratic | CT |
| John Conyers, Jr. | Democratic | MI |
| John Garamendi | Democratic | CA |
| John Lewis | Democratic | GA |
| John P. Sarbanes | Democratic | MD |
| Judy Chu | Democratic | CA |
| Keith Ellison | Democratic | MN |
| Louise McIntosh Slaughter | Democratic | NY |
| Lucille Roybal-Allard | Democratic | CA |
| Luis V. Gutiérrez | Democratic | IL |
| Marcy Kaptur | Democratic | OH |
| Mark Pocan | Democratic | WI |
| Matt Cartwright | Democratic | PA |
| Michael E. Capuano | Democratic | MA |
| Mike Thompson | Democratic | CA |
| Nydia M. Velázquez | Democratic | NY |
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| Peter Welch | Democratic | VT |
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| Robert C. "Bobby" Scott | Democratic | VA |
| Rosa L. DeLauro | Democratic | CT |
| Sander M. Levin | Democratic | MI |
| Stephen F. Lynch | Democratic | MA |
| Steve Cohen | Democratic | TN |
| Tim Ryan | Democratic | OH |