Tax

News Release | U.S. PIRG Education Fund and Frontier Group | Tax

More than a third of U.S. states get an “F” for economic development transparency

More than one-third of U.S. states are failing to make critical information about how governments are subsidizing business projects with taxpayer dollars readily available to the public online, according to a new report from U.S. PIRG Education Fund and Frontier Group. Following the Money 2019, the organization’s tenth evaluation of online government spending transparency, gives 17 states a failing grade, while only four states received a grade of “B” or higher.

Report | Florida PIRG Education Fund and Frontier Group | Tax

Following the Money 2019

Our 10th report on government spending transparency rates all 50 states on the degree to which they make information about corporate tax breaks and other subsidies available online.

News Release | US PIRG | Tax

U.S. PIRG Statement on House Tax Bill

Below is a statement from U.S. PIRG Program Advocate Michelle Surka on the proposed House tax bill's impacts on our debt:

“The Tax Cuts and Jobs Act, introduced this morning in the House, is an exercise in fiscal recklessness, exploding the budget deficit while failing to close the biggest tax loopholes and relying on gimmicks to obscure the impact on the national debt. Rather than make prudent trade-offs to achieve the President's promised tax cuts, this bill twists itself into knots attempting to distract from the bottom line: it will add trillions to our deficit."

News Release | FloridaPIRG | Tax

FloridaPIRG Applauds Introduction of Bill to End Anonymous Shell Companies

 

This Wednesday, Representatives Peter King (R-NY) and Carolyn Maloney (D-NY) introduced the Corporate Transparency Act (H.R. 3089). Senators Chuck Grassley (R-IA) and Sheldon Whitehouse (D-RI) also introduced their companion bill, the True Incorporation Transparency for Law Enforcement (TITLE) Act (S. 1454). FloridaPIRG applauds the introduction of these bills, which would put an end to anonymous shell companies in the U.S.

Report | Florida PIRG Education Fund and the Frontier Group | Tax

Following the Money 2016

News Release | Florida PIRG Education Fund, Florida Consumer Action Network, and Citizens for Tax Justice | Tax

Study: 72% of Fortune 500 Companies Used Tax Havens in 2014

St Petersburg, October 6 – Tax loopholes encouraged more than 72 percent of Fortune 500 companies – including several Florida-based companies like Office Depot – to maintain subsidiaries in offshore tax havens as of 2014, according to “Offshore Shell Games,” released today by Florida PIRG Education Fund and the Florida Consumer Action Network. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 65 percent of the total, or $1.35 trillion.

Report | Florida PIRG Education Fund and Citizens for Tax Justice | Tax

OFFSHORE SHELL GAMES 2015

U.S.-based multinational corporations are allowed to play by a different set of rules than small and domestic businesses or individuals when it comes to the tax code. Rather than paying their full share, many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company’s presence may be as little as a mailbox. Multinational corporations’ use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.

News Release | Florida PIRG Education Fund | Tax

Florida could save $100 million with proven method to curb offshore tax dodging, new study finds

A new report from Florida PIRG details how Florida is losing hundreds of millions of dollars due to the abuse of offshore tax havens, and outlines how taxpayers could save $100 million with a proven tax reform.

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