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New CCH Tax Briefing Outlines The President’s Proposals for Corporate and Business Tax Reform
(RIVERWOODS, ILL., February 27, 2012) – Reducing the corporate tax rate and making the tax code less complicated for businesses are among the proposals in President Obama’s recently released plan for business tax reform. CCH has issued a new Tax Briefing that thoroughly examines all the details and provisions of the administration’s blueprint for business taxes. CCH, a Wolters Kluwer business is a leading global provider of tax, accounting and audit information, software and services (CCHGroup.com).
The framework calls for lowering the top U.S. corporate tax rate from 35 percent down to 28 percent. Furthermore, it would reduce the lowered rate to 25 percent for manufacturers and would repeal the use of the last-in-first-out (LIFO) method of inventory management. It also calls for a suggested new minimum tax on overseas profits and a proposed relocation tax incentive to return jobs to the U.S.
“The President’s proposal is designed to be a net revenue raiser,” said Mark Luscombe, JD, LLM, CPA, and CCH Principal Federal Tax Analyst. “The call to eliminate many current business tax breaks would produce more revenue than the lowered corporate tax rate would cost, according to the Administration.”
For More Information
The new Tax Briefing is available by clicking here: The President’s Framework for Business Tax Reform. You may also visit CCHGroup.com/Legislation to access the full range of CCH Special Briefings on significant tax developments. Members of the press interested in speaking to a CCH tax analyst should contact Eric Scott at 847-267-2179, email@example.com or Leslie Bonacum at 847-267-7153, firstname.lastname@example.org.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Follow us now on Twitter @CCHMediaHelp. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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