4 ms·

Earnings earned where? Surely it's ok to keep earnings earned overseas, overseas?

• refulgentis 9y ago
  Outside the country. Yes.
• toast0 9y ago
  Until 2017, As a US corporation, earnings earned overseas were taxable in the US, but the taxes were only assessed if the earnings were brought into the US (repatriated). Since 2018, as a US corporation, earnings earned overseas are not taxable in the US in the general tax (20%ish); they are taxable in the alternative minimum tax (10%ish), but there is a credit for taxes paid overseas. As a transition, in the 2018 tax year, any prior earnings earned overseas and not previously repatriated are subject to a one time transition tax.