Financial companies operating overseas will save nearly $95 million on their taxes this year, thanks to the Supreme Court's decision last week to strike down the line-item veto.

The court's June 25 ruling restores a tax provision Congress passed last summer that would let U.S. banks and other financial services companies defer taxes on income earned by foreign subsidiaries.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.