Two Senate Democrats want to force U.S. companies to pay an exit tax on any profits held overseas if the companies decide to reincorporate abroad to cut their tax bills, the latest in a slew of proposals to stem such "inversion" deals. Senators Sherrod Brown and Dick Durbin on Friday released details of a bill that would require foreign earnings that have not been repatriated, or brought into the United States, to be taxed as income at the point when a U.S. company inverts. http://yhoo.it/1qROYwg http://bit.ly/1fJ5yqZ
9/19/2014
U.S. Senate Democrats Propose Exit Tax For Inverting Companies
Two Senate Democrats want to force U.S. companies to pay an exit tax on any profits held overseas if the companies decide to reincorporate abroad to cut their tax bills, the latest in a slew of proposals to stem such "inversion" deals. Senators Sherrod Brown and Dick Durbin on Friday released details of a bill that would require foreign earnings that have not been repatriated, or brought into the United States, to be taxed as income at the point when a U.S. company inverts. http://yhoo.it/1qROYwg http://bit.ly/1fJ5yqZ
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