(Bloomberg) U.S. states are trying to capture corporate income taxes lost to offshore havens, wary of companies exploiting rules that let them channel cash abroad and weary of congressional inaction.

Oregon enacted a bill for the 2014 tax year identifying 39 countries and territories as corporate shelters a decade after Montana passed the first such law. The Democrat-controlled Maine legislature gave initial approval this week to similar legislation over Republican objections that it was “anti- business,” and states including Minnesota and Rhode Island are considering or studying such measures.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access