HR 4953
Private Foundation Excise Tax Simplification Act of 2019
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill simplifies the tax rules for private foundations by reducing the excise tax on their net investment income. Currently, private foundations pay a 2% excise tax on this income, but the bill lowers this rate to 1.39%. It also removes a specific provision related to reduced tax rates for foundations that meet certain distribution requirements. The changes will take effect starting with the tax year following the bill’s enactment.
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Primary sponsor
Cosponsors
George Holding
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