Newswise — CHICAGO — Republicans have put forward a tax plan that would change how U.S. businesses are taxed for income overseas. Jerold Friedland is a professor of law in DePaul University’s College of Law. He specializes in the areas of international business and taxation and is a well-known expert on partnerships, limited liability companies and international joint ventures.
Friedland believes the GOP’s proposal to change to a territorial tax system, instead of the current world-wide system, is a needed reform that will enhance the international competitiveness of many U.S. companies. Benefits may not be as great for individuals, he explained.
“The GOP’s proposed tax plan does not help most middle income families, especially those with two or more children,” said Friedland. “The corporate tax reduction is greater than needed to stimulate the economy and requires shifting too much of the tax burden to individual taxpayers,” he added.
Friedland can be reached at [email protected] or 312-362-8747.
More about Friedland at http://bit.ly/dpufriedland.