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Colorado tax law targets offshores

Colorado could become the third American state to introduce new laws stopping its businesses from shifting money to offshore jurisdictions such as the Isle of Man.

In November, voters will be asked to approve forcing companies doing business there to report and pay state taxes on profits which go offshore.

It’s estimated the measure, if approved, could bring a tax windfall of up to $150 million a year.

Montana and Oregon have already passed similar laws.

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