Archives ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff FFFFFFFF| Current
NORTH CAROLINA—ROYALTY ADDBACK
CONNECTICUT— INTEREST ADDBACK
OHIO – INTEREST & ROYALTY PROVISION
AT ISSUE : North Carolina passed interest and royalty addback laws in recent years, however excluded royalty payments made to a foreign related party. This discriminatory oversight could put U.S. subsidiaries at a competitive disadvantage. OFII will pursue a legislative fix in 2006.
OTHER: North Carolina Interest & Royalty Addback Provision
AT ISSUE: In 1998, Connecticut passed interest addback inadvertently disallowing interest deductions on loans from a foreign parent company. Similar to that of North Carolina, this discriminatory oversight could put U.S. subsidiaries at a competitive disadvantage. OFII will pursue a legislative fix in 2006.
OTHER: Connecticut Interest Addback Provision
AT ISSUE: In November 2001, the Ohio state budget bill included an interest and royalty provision that would have denied deductions for such payments made to any related member, including a foreign parent corporation or foreign affiliate. In essence, this amounted to a double tax for U.S. subsidiaries of foreign companies. OFII and its members located in Ohio successfully defeated this provision.
OFII DOCUMENTS:
OFII Letter to Ohio Senate; November 12, 2001
OFII Testimony Before Ohio Assembly;
|
