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Treasury Fights to Slow Tide of Burger King-Style Corporate Inversions

Earlier this month, the U.S. Department of the Treasury announced new rules to limit tax benefits for US companies merging with foreign corporations or moving their global headquarters overseas to avoid the country’s double taxation of profits.  Known as “corporate inversions,” such arrangements were recently brought to the public eye when Miami-based Burger King purchased the Canadian breakfast-food chain Tim Horton’s. Rational Decisions Often, the motivation for an inversion is the...

Chicago Bears Linebacker Sues Cleveland over Targeted “Jock Tax”

This month, the Ohio Supreme Court agreed to hear a dispute between former Chicago Bears linebacker Hunter Hillenmeyer and the City of Cleveland over the constitutionality of the city’s special tax on high-earning athletes visiting the city to play sports. Hillenmeyer — joined in his lawsuit by professional unions representing all four major U.S. sports — claims that the city erred in levying taxes on him for games played in Cleveland Browns Stadium between 2004 and 2006. Ohio law prohibits...

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