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Tax Rates on Offshore Earnings Not Finalized

Negotiators' decision on repatriation rate may depend on bill's revenue score.

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The tax rates that U.S. companies would pay on an estimated $3.1 trillion in earnings they’ve stockpiled overseas haven’t been finalized yet—and they may change depending on the final bill’s revenue score, said Representative Tom Reed, a Republican member of the House Ways and Means Committee.

The House voted last month to tax companies’ stockpiled offshore earnings at 14 percent for income held as cash and 7 percent for less-liquid assets. The Senate’s bill this month set those rates at 14.5 percent and 7.5 percent, respectively.

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