Hamilton Place Strategies

Hamilton Place Strategies is an analytical public affairs consulting firm with offices in Washington, D.C., New York, and California.

In summer 2021, Hamilton commissioned Seidman in partnership with Ernst & Young Quest Group to estimate the economic and fiscal impact of the proposed GILTI Tax increase on publicly traded multinationals in Arizona.

GILTI operates as a form of minimum tax on certain earnings of the foreign subsidiaries of U.S.-based multinational corporations.  It is specifically targeted at the income earned from intangible assets, including intellectual property such as patents, trademarks, and copyrights.

Focusing exclusively on publicly traded U.S. multinationals with a local employment footprint of at least 100 people in Arizona, at least 266 public companies currently operating in the state could be directly affected by GILTI.

Using two direct employment loss scenarios provided by Ernst & Young Quest Group, total economic impact estimates are provided one year, five years, and ten years after the full effect of a GILTI tax increase on these U.S. multinationals.

A REMI model is used to estimate economic impacts.