Ultra-Millionaire Tax Act of 2024
This bill imposes a tax on the net value of all taxable assets of a taxpayer on the last day of any calendar year (i.e., a wealth tax). The amount of such tax is equal to the sum of 2% of the amount of taxpayer assets exceeding $50 million, but not in excess of $1 billion, plus the applicable percentage (3% or 6% if certain legislation is in effect) of the net value of such taxable assets exceeding $1 billion.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.