Sen. Carl Levin, D-Mich., has proposed a bill that would change the tax treatment of corporate stock option deductions.
Corporations are currently allowed to deduct a higher stock option compensation expense on their tax returns than is shown on their corporate books. Levin's bill, the Ending Corporate Tax Favors for Stock Options Act, would require the tax deduction to be consistent with the book expense and eliminate the existing corporate stock option deduction in the Tax Code.
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