TITLE

Choking off those mean, old charity loopholes

AUTHOR(S)
Laws, Forrest
PUB. DATE
November 2004
SOURCE
Southeast Farm Press;11/3/2004, Vol. 31 Issue 25, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on the corporate tax bill, American Job Creation Act of 2004. The act began as an attempt to address a World Trade Organization panel ruling that the Foreign Sales CorporationlExtra-Territorial Initiative provisions in the U.S. tax code were an illegal export subsidy. The European Union complained that allowing U.S. companies to bring profits from foreign sales into the U.S. at a lower tax rate allowed U.S. crops to be sold at lower prices. When it passed, the bill offered tax breaks to hundreds of companies and products, including an end to tariffs on imported ceiling fans.
ACCESSION #
15014484

 

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