H.R.4089 - To amend the Internal Revenue Code of 1986 to exclude from gross income compensation received by employees consisting of qualified distributions of employer stock.113th Congress (2013-2014)
|Sponsor:||Rep. Rohrabacher, Dana [R-CA-48] (Introduced 02/25/2014)|
|Committees:||House - Ways and Means|
|Latest Action:||02/25/2014 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4089 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (02/25/2014)
Amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of employer securities received in a qualified employee stock distribution as compensation for services that do not exceed the lowest number of employer securities received by any employee in such distribution; (2) any gain on such securities if held by an employee for not less than 10 years; and (3) in the case of any qualified disposition of an employer security that meets such 10-year holding requirement, any gain on so much stock acquired during the 60-day period beginning on the date of such disposition as does not exceed the fair market value of the employer security so disposed.
Allows employers a tax deduction for the fair market value of securities transferred in a stock distribution. Requires an employee to recapture in gross income the amount of employer securities excluded from gross income if such securities are disposed of within five years after receipt.