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Violence and arrests at campus protests across the nation; CA election worker turnover has soared in recent years; Pediatricians: Watch for the rise of eating disorders in young athletes; NV tribal stakeholders push for Bahsahwahbee National Monument.

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House Democrats say they'll vote to table a motion to remove Speaker Johnson, former President Trump faces financial penalties and the threat of jail time for violating a gag order and efforts to lower the voting age gain momentum nationwide.

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Bidding begins soon for Wyoming's elk antlers, Southeastern states gained population in the past year, small rural energy projects are losing out to bigger proposals, and a rural arts cooperative is filling the gap for schools in Pennsylvania and West Virginia.

"Tax Freedom" Differs for North Dakotans, U.S. Corporations

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Wednesday, April 29, 2015   

BISMARCK, N.D. - This is Tax Freedom Day in North Dakota, marking the day of the year when residents on average have earned enough money to pay off their total tax bill for the year. But when it comes to some of the country's largest corporations, tax freedom has a much different meaning.

Matt Gardner, executive director of the Institute on Taxation and Public Policy, said companies such as Nike, Safeway, American Express and Wells Fargo all use offshore tax havens. He said the impact on the U.S. Treasury is significant.

"If these companies paid the U.S. taxes that they ought to be paying on this income," he said, "we'd be talking about $600 billion."

Gardner said many corporations that fail to disclose whether their offshore holdings are tax havens are the same ones lobbying Congress to enact a temporary "tax holiday" or a permanent exemption for offshore income. He said both proposals would only reward companies for shifting profits overseas, and average Americans would end up footing the bill.

"When corporations don't pay their fair share," he said, "really, the impact is that the rest of us, middle-income families and small businesses, pay more to make up the difference."

As of the end of last year, Gardner said, more than 300 Fortune 500 companies collectively held more than $2 trillion in countries such as Bermuda, the Cayman Islands and the Bahamas.

The report on tax havens is online at ctj.org. Tax Freedom Day information is at taxfoundation.org.


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