
Joe Biden 2020 Plan Sets Tax Penalties for Companies’ Offshore Hiring - belltaco
https://www.bloomberg.com/news/articles/2020-09-09/biden-plan-sets-tax-penalties-for-companies-offshore-profits
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mrkeen
> Biden will propose a 28% corporate tax rate plus a 10% penalty surtax on the
> profits from any production by a U.S. company overseas for sale on American
> soil, making the overall tax rate on those profits 30.8%.

Don't do a percent of a percent.

Biden will propose corporate tax rate of 28%, plus an additional 2.8% on
profits from any production by a U.S. company overseas for sale on American
soil.

