[null and void]

Either way they will be taxed on what they earn in the USA.

Yup. But if they remain a US corporation the IRS will continue to tax ALL OF THEIR WORLD WIDE INCOME.

If they become a Swiss corporation, or a Bahamas corporation, or a Chinese corporation, or a Zimbabwe corporation the IRS will only tax them on USA income.

Do the math!

[dennisw]

Yup. But if they remain a US corporation the IRS will continue to tax ALL OF THEIR WORLD WIDE INCOME.|If they become a Swiss corporation, or a Bahamas corporation, or a Chinese corporation, or a Zimbabwe corporation the IRS will only tax them on USA income.
Do the math!

You do the math! The IRS wants Walgreens to pay the difference between the US tax and lets say the Luxemburg tax. If Luxemburg is only taxing Walgrerens operations at 4% then the IRS wants the difference. I have no problem with this..... Walgreens can keep those earnings out of the US for all I care. Then the IRS gets no tax from them

[grania]

Just when I thought I couldn't be more surprised....companies are PENALIZED for not leaving the US?

So we suffer from the loss of job opportunities and all the positives a well-run corporation brings to its communities. Meanwhile, the CEOs will still collect their huge salaries and bonuses. Shareholders will still get dividends. And even more US citizens will get free ObamaPhones and food stamps and never be able to pay off their student loans.

Wow