The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals
ThomsonReuters
DECEMBER 14, 2020
Biden’s corporate tax policy agenda calls for increasing the corporate income tax rate from 21% to 28%, changing the way GILTI is calculated, creating onshoring incentives, and more. Colorado lowered its income tax rate, Arizona passed a high-income surcharge, and Illinois rejected a progressive income tax proposal.
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