Erik Paulsen has introduced the Private Foundation Excise Tax Simplification Act of 2015, which amends the Code to: (1) reduce from 2% to 1% the excise tax rate on the net investment income of tax-exempt private foundations, and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements. The Act also excludes the budgetary effects of this Act from PAYGO scorecards.

See Act at: H.R.640 – 114th Congress (2015-2016): Private Foundation Excise Tax Simplification Act of 2015 | Congress.gov | Library of Congress

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.