July 16, 2011
Reforming the U.S. Taxation of Multinational CorporationsJennifer Barton (J.D. 2011, John Marshall) has published Comment, Running from the United States Treasury: The Need to Reform the Taxation of Multinational Corporations. 43 J. Marshall L. Rev. 1041 (2010). Here is the Conclusion:
This Comment proposes a reformation of the U.S. taxation of foreign-sourced income derived from MNCs. The advocated cohesive approach responds to the reality of an increasingly global world and removes the complexities that exist under the current system.
In the end, changing the current system of taxation would be costly. Nothing in this Comment suggests that this hybrid approach will remedy all of the current system's shortcomings, and there are drawbacks that exist in any system. Nevertheless, change is essential.
This hybrid approach, at the very least, will ensure that the U.S. remains a location for corporate headquarters and will remove the incentives to move production offshore. This cohesive approach will result in simplification and, in the long run, lower administrative costs. The U.S. government should reform the current system of corporate taxation and adopt the hybrid approach advocated in this Comment.
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