Tax News & Views - February 27, 2014
Vol. 15, No. 9
Tax Policy Group, Deloitte Tax LLP
- Camp tax reform draft achieves 25 percent top rate for corporations, individuals – but revenue tradeoffs abound – The comprehensive tax reform discussion draft that House Ways and Means Committee Chairman Dave Camp released February 26 achieves, at least nominally, the goals he set in 2011 of reducing the top income tax rate for corporations and individuals to 25 percent and moving the United States toward a territorial system for taxing domestic multinational corporations; but to accomplish those objectives the draft proposal includes an array of base broadening provisions that would have a significant impact on corporations, passthrough entities, individual taxpayers, and tax-exempt organizations.
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