offshore tax havens Archives - SC Small Business Chamber of Commerce

538 Organizations Call on U.S. Senators to Support the Stop Tax Haven Abuse Act

WASHINGTON – The South Carolina Small Business Chamber and the American Sustainable Business Council signed onto a letter released yesterday by the Americans for Tax Fairness and the Financial Accountability & Corporate Transparency (FACT) Coalition that included 538 organizations calling on Members of the U.S. Senate to support the Stop Tax Haven Abuse Act (S. 1533). …

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Nations pulling together to fight multinational corporation freeloaders

Last month in Great Britton the collection of the world’s top eight economic nations (the G8) decided to get tough on multinational corporations evading paying taxes. Last week the top 20 economic nations (the G-20) endorsed the outline of a plan to do the same thing. The full plan by the Organization for Economic Cooperation …

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The G8 nations and small businesses have something in common

By Frank Knapp / Small Business Advocacy Blog, Taxation / June 18, 2013

The split in business opinion (see story below) on whether the economic world powers represented at the G8 summit should crack down on offshore tax havens that deprive nations of corporate tax revenue is easily understood. Organizations like the U.S. Chamber of Commerce, which represents multinational corporations, want to protect their big dues paying members …

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Irish seeing red from missed green

By Frank Knapp / Small Business Advocacy Blog, Taxation / June 5, 2013

When it was reported recently that Apple has avoided paying U.S. corporate income taxes on tens of billions of dollars by claiming the money really belonged to its Irish subsidiary, the hope was that Congress would use the revelation to seriously look at closing these tax loopholes used by multinational corporations. But, of course, our …

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Tax havens unfair to small businesses

By Frank Knapp / Small Business Advocacy Blog, Taxation / April 23, 2013

The Washington Post Published: April 22 The latest deficit-reduction plan offered by Erskine Bowles and Alan Simpson supports the interests of big business at the expense of the United States’ small businesses by calling for adoption of a territorial tax system. In two recent polls, small-business owners have soundly rejected making abuse of offshore tax …

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Clocks ticking. Do you know where the multinational profits are?

By Frank Knapp / Taxation / April 12, 2013

The clock is ticking and your personal tax filings are due on Monday. If you are like me you asked for an extension on your business tax filing that was due before this (S-corps and LLCs). So as you rush to get the taxes done or are checking with your tax preparer to see how …

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Look who your taxes are subsidizing

By Frank Knapp / Taxation / April 11, 2013

As America gets ready to finalize their taxes, you need to check out these three very short (less than 75 seconds) video clips to get your blood really boiling. I am featured in the third clip. Small Businesses Picking Up the Tab for Multinational Corporations? http://youtu.be/4AicxgXgmZc • Small businesses can’t escape the corporate tax rate, multinational corporations can …

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New Poll of Small Business Owners

By Frank Knapp / Taxation / April 9, 2013

Reveals Strong Bipartisan Opposition to Corporate Tax Loopholes First Poll on Overseas Tax Haven Reforms Finds Rejection of “Territorial” Tax System April 9, 2013, Washington, D.C. – Small business owners oppose the current system for taxing U.S.-based multinational corporations, according to a new poll. The national scientific poll released today by the American Sustainable Business …

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New Study: Offshore Tax Dodging Blows $40 Billion Hole in State Budgets

By Frank Knapp / Taxation / February 6, 2013

Congress Poised to Debate Closing Corporate Tax Loopholes, Bring States Budget Relief Read the Report: www.uspirgedfund.org/reports/usf/hidden-cost-offshore-tax-havens Washington, February 5th – With states across the country facing dire fiscal crunches and lawmakers in Washington gearing up for more budget showdowns, U.S. PIRG Education Fund released a new study revealing that state budgets were hit collectively with …

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Push multinational corporate tax dodgers over the fiscal cliff

By Frank Knapp / Taxation / December 6, 2012

The Wall Street JournalDecember 5, 2012 By Carl Levin America stands at the edge of a fiscal cliff with drastic budget cuts and painful tax increases on the middle class unless we can agree on a comprehensive, balanced deficit-reduction plan. This challenge lends new urgency to cutting loopholes and gimmicks to avoid paying taxes. Tax …

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