S 3155
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
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Bill overview
This bill, titled the Stop Subsidizing Multimillion Dollar Corporate Bonuses Act, aims to limit the tax deductions corporations can take for high executive compensation. It expands the definition of ‘excessive employee remuneration’ under Internal Revenue Code section 162(m) to include a broader range of employees, particularly those holding top executive positions or who are among the highest-paid officers. The bill also clarifies the definition of a ‘publicly held corporation’ and grants the IRS greater regulatory authority to prevent companies from avoiding these limitations through complex financial structures. These changes will take effect starting January 1, 2023.
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