Tax Excessive CEO Pay Act of 2024

This bill imposes a corporate tax penalty on large companies where the CEO's pay exceeds 50 times the pay of the average worker. For corporations with a pay ratio over 50:1, the standard 21% corporate tax rate increases by 0.5% to 5% based on how high the ratio is (e.g., 5% for ratios over 500:1). It applies only to corporations with average annual revenue over $100 million, exempting smaller businesses. The penalty takes effect for tax years beginning after December 31, 2024, and includes rules to prevent companies from manipulating the ratio by using contractors instead of employees.