Ending Tax Breaks for Corporations on Massive Malicious Defamation Penalties.
This law changes tax rules to prevent very large corporations (over $10 billion in revenue) from deducting massive penalties and legal costs related to defamation lawsuits. If a corporation pays over $500 million in a case proving actual malice, they cannot treat that amount as a business expense for tax purposes. This aims to increase the financial accountability of corporations for intentionally spreading false information.
Key points
Very large corporations (over $10B revenue) lose the ability to deduct defamation penalties from their taxes.
This applies only to cases proving malicious intent where the total penalty or settlement exceeds $500 million.
Corporations also cannot deduct associated legal fees and related insurance premium costs for these specific suits.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.