Change of Jurisdiction
An issue that occurred during the 1990s for some larger companies involved tax treaties which allowed a corporation to change its jurisdiction as a domestic corporation from a U.S. State to the country of Bermuda, allowing it to save huge amounts of tax payments. Some corporations took advantage of this provision, while others did not because of concerns by stockholders as to whether it would be to their advantage to allow the corporation to move its nominal home jurisdiction.
Read more about this topic: Foreign Corporation
Famous quotes containing the words change and/or jurisdiction:
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—Rutherford Birchard Hayes (1822–1893)
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—William Howard Taft (1857–1930)