The Obama administration has shelved a plan to raise more than $200 billion in new taxes on multinational companies following a blitz of complaints from businesses. A contingent of Silicon Valley chief executives, for example, traveled to Washington in late September to speak out against the proposal to change how the federal government taxes overseas profits.The Obama idea was for the USA to double-tax the profits while still in the banks of other countries: a US tax of 35%, plus the local taxes. The positive outcome would be that US companies would more quickly bring the profits back into the USA. (Currently, the money is taxed only when it is transferred to the USA; in addition the money can be "borrowed" by the corporation for 3-6 months tax-free.)
But the Whew! is only temporary. The new tax could be implemented next year, and Autodesk's tax bill could amount to $245 million (by my guestimate).