The tax landscape is changing for the amount U.S. multinational corporations may claim through the foreign tax credit. This change is the result of the Statutory Pay-As-You-Go Act of 2010 that requires any increased spending must be offset by a corresponding increase in revenue. [1...
August 10, 2010, the President signed into law the Education, Jobs and Medicaid Assistance Act , P.L. 111-226, which,
although not evident in the name of the Act, contained certain key foreign tax
credit provisions and other rules that significantly affect U.S. multinational
Budget & Taxes
AK Gov Proposes Challenging Deficit Reduction Plan
Last week Alaska Gov. Bill Walker (I) unveiled his long-awaited plan to address the state’s multi-billion budget deficit, resulting from plunging oil prices and reduced oil production in the state. The proposal includes...