Episode #96
The Supreme Court on Thursday upheld a provision of a 2017 corporate tax reform law, known as the mandatory repatriation tax, that taxes the undistributed profits from U.S. shares of foreign corporations in which Americans own a majority. An American couple had challenged the constitutionality of the one-time tax, which was imposed on earnings after 1986 and would increase the couple’s tax bill by approximately $15,000. But by a vote of 7-2, the court ruled that the tax does not violate the Constitution.
• Legalese Home Page – https://www.legalesepodcast.com/
• Sign up for Legalese Newsletter! – https://legaleseshow.com/
