The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
By Nour Malas and Jim Carlton
City leaders here are proposing to more than triple a tax on stock compensation in a bid to use revenue from a wave of public offerings by tech companies to address concerns about growing wealth disparity. The so-called IPO tax would raise the levy on corporations for stock-based compensation to 1.5% from the current rate of 0.38%. That would restore the rate to its level in 2011 when the city, pulling out of recession, cut it as part of a change in its tax structure intended to keep companies from leaving.
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