The court ruled in the case of Charles and Kathleen Moore, of Redmond, over a challenge backed up business and anti-regulatory interests.
WASHINGTON — The Supreme Court on Thursday upheld a tax on foreign income over a challenge backed by business and anti-regulatory interests, declining their invitation to weigh in on a broader, never-enacted tax on wealth.
The justices, by a 7-2 vote, left in place a provision of a 2017 tax law that is expected to generate $340 billion, mainly from the foreign subsidiaries of domestic corporations that parked money abroad to shield it from U.S. taxes.
The law, passed by a Republican Congress and signed by
→ Continue reading at KGW TV