Supreme Court Upholds 2017 Tax On Foreign Profits For US Businesses
Portfolio Pulse from Michael Juliano
The U.S. Supreme Court has upheld a 2017 tax on foreign profits for American-owned businesses, which is expected to generate $340 billion over 10 years, impacting multinational companies like Apple Inc. (NASDAQ:AAPL) and Pfizer (NYSE:PFE).
June 20, 2024 | 4:14 pm
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NEGATIVE IMPACT
The Supreme Court's decision to uphold the 2017 tax on foreign profits will impact Apple Inc. (NASDAQ:AAPL), as the company is expected to contribute to the $340 billion revenue over 10 years.
Apple, being a major multinational company, will be significantly affected by the upheld tax, potentially leading to increased tax liabilities and impacting its financials.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Pfizer Inc. (NYSE:PFE) will be affected by the Supreme Court's decision to uphold the 2017 tax on foreign profits, contributing to the estimated $340 billion revenue over 10 years.
As a multinational company, Pfizer will face increased tax liabilities due to the upheld tax, which could affect its financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80