Tax Law Changes: Stopping Corporate Tax Avoidance
This bill aims to make it harder for large companies to avoid paying US taxes by moving their headquarters abroad. If a company relocates but its management and most operations remain in the US, it will still be treated as a US company for tax purposes. This could mean more government revenue for public services and fairer conditions for companies that pay their taxes domestically.
Key points
Companies moving headquarters abroad but primarily managed from the US will be treated as domestic for tax purposes.
New rules apply if over 50% of the foreign company's stock is held by former US company shareholders after an acquisition.
The bill defines when company management and control are considered US-based, and what constitutes "significant domestic business activities."
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