Provisions of new US tax changes

Ok, time to leave cookies out for Santa.

Ok, time to leave cookies out for Santa.

Huh? Don't quite know how to interpret this one......
That I'm aware of......Santa wasn't in the new tax changes

Ok, time to leave cookies out for Santa.

Particularly if you are filing online.*



*this attempt at a joke may not be understand by folks who are not nerds like myself.

Color me annoyed that the new scheme gives corporations a break from dual taxation, but not individuals.

Color me annoyed that the new scheme gives corporations a break from dual taxation, but not individuals.

What new measure gives Corporations a break from dual taxation? I think I must have missed that, I thought the aim was to encourage Corporations to move their profit centres back to the USA with the much lower corporate tax rate.

Santa is well known for moving his corporate headquarters to the North Pole to avoid tax...

I coulda misread it. Or this might not be accurate.

http://www.savingtoinvest.com/trump-tax-plan-cuts-and-changes-in-2017-2018-and-beyond/  under Global & International Taxes.

https://www.pri.org/stories/2017-12-17/heres-whats-final-version-republican-tax-bill

And Santa had better not mind the oil drilling coming from nearby in the Artic Wildlife Refuge.

I coulda misread it. Or this might not be accurate.

http://www.savingtoinvest.com/trump-tax-plan-cuts-and-changes-in-2017-2018-and-beyond/  under Global & International Taxes.

https://www.pri.org/stories/2017-12-17/heres-whats-final-version-republican-tax-bill

And Santa had better not mind the oil drilling coming from nearby in the Artic Wildlife Refuge.

Thanks for those links.

Territorial system: Exempts US corporations from US taxes on most of their future foreign profits, ending the present worldwide system of taxing profits of all US-based businesses, no matter where the profits are earned.

Repatriation: Sets a one-time mandatory tax of 8 percent for illiquid assets and 15.5 percent for cash and cash equivalents on $2.6 trillion in U.S. business profits currently held overseas. That foreign cash pile was created by a rule that allowed foreign profits to be tax deferred if they were not brought into the United States, or repatriated, a tax rule that would be rendered obsolete by the territorial system.