CEO Pay Disparity Tax Act
Amends TCA Title 67, Chapter 4.
Tennessee HB0431, titled the "CEO Pay Disparity Tax Act," proposes to impose an additional 0.1 percent surcharge on the standard 6.5 percent excise tax rate for companies whose top executive compensation exceeds 100 times the median employee income. This bill affects corporations operating in Tennessee that meet the specified pay disparity criteria. Key provisions include the calculation of the surcharge based on the disparity between CEO pay and median employee income, aimed at addressing income inequality within companies.
Tennessee HB0431, titled the "CEO Pay Disparity Tax Act," proposes to impose an additional 0.1 percent surcharge on the standard 6.5 percent excise tax rate for companies whose top executive compensation exceeds 100 times the median employee income. This bill affects corporations operating in Tennessee that meet the specified pay disparity criteria. Key provisions include the calculation of the surcharge based on the disparity between CEO pay and median employee income, aimed at addressing income inequality within companies.
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