Oct 13, 2020

Estimates also suggest taxes on foreign income for multinational firms are essentially unchanged

U.S. companies with purely domestic operations have benefited the most from the Tax Cuts and Jobs Act (TCJA), each saving about 11 percent or $19 million a year on average since the reforms took effect in 2018, according to estimates from Duke University’s Fuqua School of Business. The TCJA cut the highest corporate tax rate from... read more Although the TCJA appeared to help domestic companies most, multinationals also saw benefits, saving $49 million per year or 5.3 percent on federal taxes, the paper shows. However, those savings were mostly from lower taxes on those firms’ domestic income, Dyreng noted. What surprised the researchers was that, despite major changes... read more