States Eye Worldwide Reporting to Curb Income Shifting
Talking Tax31 Tammi 2024

States Eye Worldwide Reporting to Curb Income Shifting

For decades, states’ authorities to tax the earnings of multinational corporations have ended abruptly at the “water’s edge.” Frustration with this limitation, however, has grown in recent years as large, sophisticated businesses employ accounting techniques and asset transactions to shift their domestic earnings offshore. Mandatory worldwide combined reporting—an apportionment method requiring the calculation of taxes based on global income attributable to a particular jurisdiction—is one possible solution gaining attention in state capitals. Lawmakers in Minnesota came close to enacting a worldwide system last year and the New Hampshire House debated, but failed to approve, the calculation method earlier this month. Legislators in other states have also discussed this tax calculation method. On this episode of Talking Tax, Bloomberg Tax senior reporter Michael J. Bologna discusses worldwide combined reporting with two Democratic state lawmakers committed to reforms that would limit income shifting by multinationals. Minnesota Rep. Aisha Gomez is chair of the state's House Taxes Committee and Rep. Emilie Kornheiser is chair of the Vermont House Ways and Means Committee. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

Jaksot(431)

Help Wanted: Top Job at IRS Open After Confirmed Chief Splits

Help Wanted: Top Job at IRS Open After Confirmed Chief Splits

One of the most unwanted jobs in Washington is now up for grabs—again. President Donald Trump's IRS commissioner, Billy Long, exited as the head role last week and is expected to be nominated as t...

13 Elo 202512min

Tariffs Draw All Hands—Tax and Others—to the Executive Suite

Tariffs Draw All Hands—Tax and Others—to the Executive Suite

It’s been four months since the Trump administration announced its “Liberation Day” tariffs, and companies are still scrambling to make sense of what it means for their operations and tax planning. ...

1 Elo 202514min

Small Business, Trusts Brace for Phaseout of Paper Tax Refunds

Small Business, Trusts Brace for Phaseout of Paper Tax Refunds

Millions of taxpayers used to getting paper checks from the Treasury Department will soon have to find another way to get their money as the agency phases out paper refunds. The Treasury will send ...

30 Heinä 202513min

Trump Administration Signals Changing Standards for Tax-Exempts

Trump Administration Signals Changing Standards for Tax-Exempts

Tax-exempt organizations are closely watching the Trump administration to see if it makes good on its intention to alter standards around claiming tax-free status. The IRS gave a green light to ch...

23 Heinä 202515min

The Tax Bill's Obscure Breaks and the Road Ahead for Congress

The Tax Bill's Obscure Breaks and the Road Ahead for Congress

Tax breaks for whale captains in Alaska and spaceport builders were among the lower-profile perks included in the GOP's $3.4 trillion tax-and-spending law enacted this month. The policies were nec...

16 Heinä 202514min

What Latin America Can Teach About Tariffs, Transfer Pricing

What Latin America Can Teach About Tariffs, Transfer Pricing

Multinational corporations have been hustling to make sense of the flurry of US tariff policy changes this year, and figure out how to factor that into their transfer pricing. One place that's bee...

9 Heinä 202513min

What the G7 Did to the Global Tax Pact, and What Comes Next

What the G7 Did to the Global Tax Pact, and What Comes Next

The fate of the OECD-led global tax deal was rocked this week after the US and its Group of Seven allies came to an understanding that would exempt American companies from two key parts of the global ...

2 Heinä 202517min

US Audit Board’s Role Still Sparks Debate Two Decades Post-Enron

US Audit Board’s Role Still Sparks Debate Two Decades Post-Enron

Congress is reconsidering the accounting guardrails it put in place more than two decades ago to ensure investors can trust the revenues and asset values listed companies publish. Republican budget...

25 Kesä 202529min

Suosittua kategoriassa Politiikka ja uutiset

uutiscast
aikalisa
ootsa-kuullut-tasta-2
rss-ootsa-kuullut-tasta
politiikan-puskaradio
tervo-halme
rss-vaalirankkurit-podcast
viisupodi
rss-podme-livebox
et-sa-noin-voi-sanoo-esittaa
rss-asiastudio
otetaan-yhdet
rikosmyytit
the-ulkopolitist
linda-maria
radio-antro
rss-sanna-ukkola-show-verkkouutiset
io-techin-tekniikkapodcast
aihe
rss-tasta-on-kyse-ivan-puopolo-verkkouutiset