New 0.1% Federal Tax on Stock, Bond, and Derivative Trading.
This bill establishes a new federal tax of 0.1% on most transactions involving the purchase and sale of stocks, bonds, and derivatives. While the tax is primarily collected from exchanges and brokers, it may indirectly increase the cost of investing for citizens who hold brokerage accounts or retirement funds engaged in frequent trading. The legislation aims to generate federal revenue by taxing financial market turnover.
Key points
A 0.1% tax is imposed on the fair market value of most covered transactions involving securities, including stocks, bonds, and derivatives.
The tax applies to transactions on US exchanges or those where a US person is the purchaser or seller.
Exchanges and brokers are generally responsible for paying the tax, which takes effect after December 31, 2023.
Status:
Expired
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