In the Tax Justice Digest we recap the latest reports, blog posts, and analyses from Citizens for Tax Justice and the Institute on Taxation and Economic Policy. Here’s a rundown of what we’ve been working on lately.
Corporate Tax Watch: LinkedIn and Microsoft
How is Microsoft buying LinkedIn? By borrowing $26 billion and essentially using its $108 billion in offshore cash as collateral. CTJ Director Bob McIntyre writes about this perfectly legal tax dodging deal here.
LinkedIn has a tax avoidance problem. The company generates tax breaks faster than it can use them. Read how this could be a gain for Microsoft.
Our Take on Menu of Louisiana Tax Proposals
Louisiana lawmakers are in their second special session of the year to address the state’s budget shortfall before the new fiscal year begins July 1. ITEP Senior Analyst Lisa Christensen Gee reminds us that fiscal duct-tape should be avoided and reviews the key tax proposals here.
Guest Blog Post: North Carolina Senate Measure Increases Costs and Hurts Communities
Cedric Johnson from the North Carolina Budget and Tax Center writes about the push by some North Carolina Senators to change the constitution to cap the state’s income tax rate. Read Cedric’s guest post here.
IRS Should Strengthen its Country-by-Country Reporting Rules
Offshore tax avoidance costs governments worldwide hundreds of billions of dollars in lost revenue. The IRS just issued new rules about the need for country-by-country reporting, but those rules don’t go far enough. Read more.
Pennsylvania: Budget Countdown
Will Pennsylvania’s budget be ready by July 1? Here’s the latest on where things stand in Harrisburg from ITEP Senior Analyst Aidan Russell Davis.
In this week's Rundown we highlight state tax news in: Louisiana, Michigan, New Jersey, Missouri, North Carolina, and West Virginia. We are also debuting a new feature: News We’re Watching. Read the full State Rundown here.
Sharable Tax Analysis
ICYMI: CTJ recently wrote a thoughtful piece on what real tax reform looks like. Check out the three guiding principles for tax reform here.
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