9th U.S. Circuit Court of Appeals,
Tax,
U.S. Supreme Court
Jun. 21, 2024
U.S. Supreme Court upholds Mandatory Repatriation Tax
The provision is part of the Tax Cuts and Jobs Act of 2017, which was passed by Congress and signed into law by then-President Donald Trump.
he U.S. Supreme Court on Thursday upheld by a 7-2 vote a decision by the 9th U.S. Circuit Court of Appeals that a provision of a law that requires a one-time payment from earnings of controlled foreign corporations is constitutional.
The provision, known as the Mandatory Repatriation Tax, is part of the Tax Cuts and Jobs Act of 2017, which was passed by Congress and signed into law by then-President Donald Trump. A Washington state couple, who were minority shareholders of an Ind...
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