Bill > S1501

This bill, the Stop Corporate Inversions Act of 2021, amends the Internal Revenue Code to modify the rules relating to inverted corporations. Specifically, it expands the definition of an "inverted domestic corporation" by lowering the threshold for when a foreign corporation is treated as a domestic corporation for tax purposes. The bill also provides exceptions for foreign corporations with substantial business activities in their country of organization and clarifies the determination of management and control and significant domestic business activities. The amendments made by this bill would apply to taxable years ending after May 8, 2014.