Goldman Sachs Predicts 25% Corporate Rate In Tax Proposal

Law360, Washington (October 26, 2017, 7:37 PM EDT) -- Draft tax reform legislation to be introduced next week is likely to include a 25 percent corporate rate and a territorial system with a minimum tax of 12 percent to 15 percent, a Goldman Sachs report said.

The report, which appeared in several media outlets Thursday, also told investors to expect a 10 percent deemed repatriation tax on accumulated cash earnings overseas and at least a 4 percent tax on reinvested earnings.

Goldman Sachs predicted tax writers would arrive at 25 percent despite the 20 percent corporate rate proposed in both the “big six” framework released Sept. 27 and the House...

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