> a company’s highest-paid executives would not be able to defer taxes on their stock under the legislation.
Where is the line drawn on this? I am a companies highest paid executive... I make a whopping $100k. Some of the others have no pay check at all. Exersizing would net a $40k tax bill for me. 40% of my pre-tax take-home pay. But as the highest paid executive am I exempt from deferring?
Edit: to answer my own questions...
> who has been for any of the 10 preceding taxable years one of the 4 highest compensated officers of such corporation determined with respect to each such taxable year on the basis of the shareholder disclosure rules for compensation under the Securities Exchange Act of 1934
Translation... I guess this doesn't benefit me, then.
Well based on this bill unless they are the CIO or CEO they can defer their taxes. Whereas I can't. Yet I have much less wealth than the other people. So the bill doesn't really help in my case. And being an early stage employee having an executive title is very common.
Where is the line drawn on this? I am a companies highest paid executive... I make a whopping $100k. Some of the others have no pay check at all. Exersizing would net a $40k tax bill for me. 40% of my pre-tax take-home pay. But as the highest paid executive am I exempt from deferring?
Edit: to answer my own questions...
> who has been for any of the 10 preceding taxable years one of the 4 highest compensated officers of such corporation determined with respect to each such taxable year on the basis of the shareholder disclosure rules for compensation under the Securities Exchange Act of 1934
Translation... I guess this doesn't benefit me, then.