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Small quibble Frank, might need checking. I think US corporations can deduct local taxes, but i'm not certain. What i do remember is some very convoluted arguments being made about taxing international income in California.

"Life shrinks or expands in proportion to one's courage." - Anas Nin
by Crazy Horse on Fri Feb 11th, 2011 at 10:04:27 AM EST
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Point taken.  I have read contradictory reports on this - on the one hand that US Governments are taxed on their oversees earnings - but then it hardly makes them to locate in "low tax" locations if they are going to be taxed on the difference anyway.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Feb 11th, 2011 at 12:23:01 PM EST
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US individuals are taxed on their overseas earnings, which is somewhat unusual. I think this is what you refer to.

AFAIK, there is nothing particularly unusual about the American stance on corporate taxes (except that it may be slightly more offshoring-friendly than in the rest of the OECD).

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Feb 16th, 2011 at 11:50:52 AM EST
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Local taxes are deductible in countries that have a tax treaty with the US. Which is most countries that aren't glorified money laundering scams.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Feb 16th, 2011 at 11:47:55 AM EST
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