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What tax law caused a 111% tax rate? Western digital reported results yesterday, and they had a similar claim
by mankash666 9y ago
What tax law caused a 111% tax rate? Western digital reported results yesterday, and they had a similar claim
- skissane 9y agoLatest US tax reform included a one-off transition tax on previously untaxed foreign earnings. As a percentage of this years earnings, it is 111%. But, really it is paying tax on parts of previous years earnings that they didn't pay tax on at the time, not this years earnings.
- ksec 9y agoBut I thought ( I haven't looked into it in a long time ) They have always had some numbers deducted for Tax they owned (debt) IF they had to bring it back to US, so it was always accounted for but not deducted until later date.