Kansas City Southern officials surprised by tax law's impact on finances

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KANSAS CITY, Mo. — The smallest of the United States' Class I railroads is an unwitting example of Congress' recent tax overhaul missing the mark.

The Wall Street Journal reports on March 26, that Kansas City Southern officials are expecting their total tax payments to the U.S. treasury to increase 1 to 1.5 percent as a result of the recent tax overhaul because the railroad generates a significant portion of its income outside of the U.S. — almost all of that international income is generated in Mexico.

The Journal cites a KCS executive saying that railroad leaders had planned to see a drop in the corporation's income tax rate to 30 or 29 percent from 34 percent.

Instead, the Journal reports, KCS is caught by a new minimum corporate tax levy known as Global Intangible Low-Taxed Income.

See the original article online.

NEWSWIRETrains News Wire

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