Tennessee’s tax paying citizens could recover between $110 million and $250 million per year by requiring ‘combined reporting’ for corporations who currently use Delaware holding companies to avoid paying state taxes.

from Tennesseans for fair taxation: “Based on revenue estimates from 11 other states, we know that combined reporting could potentially recover between $110 million and $250 million currently being lost through tax loopholes.”

(Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 60% of the Fortune 500 companies are incorporated in the state.[1])

Brian , from Tennesseans for fair taxation, online at http://www.fairtaxation.org created the video below to help Tennesseans understand why they should write to their Congressmen and help to close the Corporate tax loophole that is robbing local taxpayers of money that should be helping to improve local schools and infrastructure:

Visit warongreed.org to read numerous recent articles about the current climate for fair taxation in America.

from Tenneseans for fair taxation: …”Combined reporting is an accounting method already used by 21 states representing over half the US economy. It requires businesses with multiple subsidiaries to file a single, unified tax return for the parent company and all its affiliates. In the process, it shuts the door to a wide array of corporate tax avoidance strategies with one simple, common sense change in reporting. Corporations can still shift profits back and forth between their various subsidiaries, but there is no long a tax advantage in doing so under combined reporting. Based on revenue estimates from 11 other states, we know that combined reporting could potentially recover between $110 million and $250 million currently being lost through tax loopholes.”

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