Puerto Rico occupies a space between foreign and domestic status with U.S. citizenship for residents, its own Olympic team and a tax system that allows individuals and companies the chance to elude the IRS.
For more than 60 years, the Tennessee Gas Pipeline has linked natural-gas wells in Texas to customers in the north. Until last year, it paid federal corporate income taxes on its earnings, setting aside $107 million in 2011 alone.
A tax break used by oil and gas pipeline companies such as Kinder Morgan Energy Partners LP will cost the U.S. government $7 billion through 2016, about four times more than previously estimated, Congress’s tax scorekeepers said this month.
Friso van Oranje, the brother of King Willem-Alexander of the Netherlands whose love for a woman led him to renounce his claim to the throne, has died 18 months after a skiing accident left him in a coma. He was 44.
When defender Casey Stoney joined the Arsenal women’s soccer team from Chelsea in 2000, she had to take a part-time job to support herself. Working in the club’s laundry, she washed the uniforms of the men’s team, whose players included Dutch star Dennis Bergkamp.
Short line railroads, the government of American Samoa and owners of Nascar tracks are among a diverse group that may encounter added resistance in a drive to protect billions of dollars in U.S. tax breaks.