2016 Republican Tax Plan Has "Territorial" Business Taxes

The House Republicans have released their tax plan in advance of the 2016 election.

One unique aspect of the plan is the move to a "territorial system" for business taxes.

Currently, the US is one of the few nations that taxes the earnings of individuals and businesses at a world-wide level. In other words, even if you, or a business, makes money in Europe, you'll pay American taxes on those earnings.

At least for businesses, House Republicans aim to change that :


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