Camp unveils major tax reform plan
By Evan M Migdail and Bruce Thompson
House Ways and Means committee chairman Dave Camp (R-Michigan) has unveiled his comprehensive tax reform proposal. Released as draft legislation, the Camp proposal calls for the most fundamental reform of the tax code in 27 years.
Upon releasing the plan, Camp said his reforms would make the tax code simpler and fairer for families and job creators, spur economic growth, create jobs and put money back in the pockets of hardworking taxpayers.
The proposal would reduce the top individual tax rate to 25 per cent from 39.6 per cent and the corporate tax rate to 25 per cent from 35 per cent. The seven individual tax brackets would be reduced to two brackets of 10 and 25 per cent, and a 10 per cent surtax would be imposed on certain income above $450,000 (£270,000). Capital gains and dividends would be taxed as ordinary income, with a 40 per cent exclusion…
Click on the link below to read the rest of the DLA Piper briefing.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
Intellectual Property and Technology News — service integration in the technology and sourcing space; and more
Intellectual Property and Technology News (Asia Pacific) is a biannual publication from DLA Piper that offers perspectives, analysis and visionary ideas.
This paper is a high-level overview of developments concerning the Maldives.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions