Baucus Tax Plan Stokes Corporate Exodus Fears

Law360, New York (November 20, 2013, 9:05 PM EST) -- A package of reforms offered by Senate Finance Committee Chairman Max Baucus that radically changes taxation of U.S.-based multinationals sparked fears on Wednesday that even modestly increasing effective corporate tax rates could spur companies to flee the country, experts said.

The Montana Democrat's proposals were met with immediate opposition from business groups after they were unveiled Tuesday. Among other changes, the senator's plan would eliminate a system that has allowed U.S. companies to defer tax payments on income derived from foreign subsidiaries and impose a one-time tax...
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