H.R. 4691 · 113th Congress
Private Foundation Excise Tax Simplification Act of 2014
- Stage
- Reported from committee
- Sponsor
- Erik Paulsen
- Introduced
- 2014-05-20
- Latest action
- 2014-06-26 · Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-497.
Summary
Private Foundation Excise Tax Simplification Act of 2014 - Amends the Internal Revenue Code to: (1) reduce from 2% to 1% the excise tax rate on the net investment income of tax-exempt private foundations, and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.