The US Supreme Court upheld the Trump-era tax on foreign business income in a 7-2 ruling.

The US Supreme Court has upheld a Trump-era tax on foreign business income in a 7-2 ruling, maintaining the existing law that requires US shareholders to pay taxes on their share of foreign corporations' earnings regardless of whether the income is repatriated back to the US. The decision, which supports the administration of President Joe Biden, finds that the tax system in question is not an unconstitutional burden on foreign commerce.

June 20, 2024
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