FDII Tax Breaks for Big Tech Set to Expire: What Congress Might Do Next.
(ThyBlackMan.com) The U.S. Congress will soon consider whether to extend the tax cuts enacted in the 2017 Tax Cuts & Jobs Act that are set to expire at the end of 2025. One of those expiring tax cuts grants a preferential, and deeply generous, tax rate for so-called Foreign Derived Intangible Income (FDII), a type of income earned by U.S. multinational corporations that make outsized profits by selling to foreign […]