Senator Levin Introduces the "Ending Corporate Tax Favors for Stock Options Act"
On September 28, 2007, Senator Carl Levin introduced the "Ending Corporate Tax Favors for Stock Options Act."
The bill would limit the deduction for compensation for personal services paid for with stock options to an amount that would not exceed the amount the taxpayer has treated as an expense with respect to such stock options for the purposes of ascertaining income, profit or loss in a report or statement to shareholders, partners or other proprietors, and would allow the deduction in the same period the accounting expense is recognized.
You can find a summary of the impact of the bill's provisions here.
