The Wall Street Journal | By: Theo Francis & Yaryna Serkez | GPE – January 17, 2018:
Companies have long sheltered foreign profits offshore. Now the tax bill is coming due. How much will they pay?
December’s federal tax overhaul gave American companies much of what they wanted on the tax front. For many multinational firms, it came with a price tag.
They must pay a one-time “repatriation” tax on an estimated $2.5 trillion or more of foreign profits accumulated over the past three decades. The U.S. government estimates it will collect $339 billion from the tax over the next decade.
A Wall Street Journal analysis suggests that 311 large publicly traded companies could generate nearly $250 billion of that. But the levy will affect different industries and companies very differently…
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