Wyden Offers Section-by-Section Summary of Billionaires’ Tax Act

Wyden Offers Section-by-Section Summary of Billionaires’ Tax Act

U.S. Senate

U.S. Senate Finance Committee

The Billionaires Income Tax Act would end deferral of taxes for ultra wealthy taxpayers, with tradable covered assets marked to market annually and stock of privately held C corporations subject to an “excess dividend” rule, among other provisions, Senate Finance Chair Ron Wyden, D-Ore., said in a section-by-section summary of the legislation.  

The Billionaires Income Tax Act would end deferral of taxes for ultra wealthy taxpayers, with tradable covered assets marked to market annually and stock of privately held C corporations subject to an “excess dividend” rule, among other provisions, Senate Finance Chair Ron Wyden, D-Ore., said in a section-by-section summary of the legislation.

The<a href="/lr/resolve//7hlqp"> Billionaires Income Tax Act</a> would end deferral of taxes for ultra wealthy taxpayers, with tradable covered assets marked to market annually and stock of privately held C corporations subject to an “excess dividend” rule, among other provisions, Senate Finance Chair Ron Wyden, D-Ore., said in a section-by-section summary of the legislation.

The Billionaires Income Tax Act would end deferral of taxes for ultra wealthy taxpayers, with tradable covered assets marked to market annually and stock of privately held C corporations subject to an “excess dividend” rule, among other provisions, Senate Finance Chair Ron Wyden, D-Ore., said in a section-by-section summary of the legislation.  