Law Professors Letter on Worldwide Combined Reporting in Minnesota

Abstract

The near adoption of Worldwide Combined Reporting (WWCR) in Minnesota has led to a blizzard of critical claims about WWCR from corporate tax lobbyists, the Tax Foundation, and the editorial board of the Wall Street Journal. These various groups have made a number of policy arguments that do not hold up to serious scrutiny. As experts in the field, we will use this letter to briefly explain and establish the positive case for WWCR, and then address these counter-arguments.

Keywords: Worldwide Combined Reporting, WWCR, international corporate profit sharing, corporate profit sharing, corporate taxation, multinational tax avoidance

JEL Classification: K10, K20, K30, K34, K22