Goldman Sachs said Friday that the U.S. corporate tax changes will hit Q earnings as it repatriates cash from its overseas operations. Goldman Sachs GS Get Report said Friday that it will book a $ billion charge against its fourth quarter earnings linked to the Republican . Goldman Sachs has said Donald Trump's radical US tax changes will knock about $bn .bn off its profits this year. The investment bank said most of the cost would come from Trump's "repatriation tax" designed to encourage multinationals to bring back the trillions of . Goldman Sachs expects to take a $ billion charge to its fourth quarter earnings as a result of the tax bill that President Trump signed into law last week, the bank said in a regulatory filing. It is a one time blow for Goldman. The benefits of the law s tax cuts including a reduction of the corporate income tax .Goldman Takes One Time $ Billion Hit From New US Tax Law Bloomberg Goldman Sachs Group Inc. said the U.S. tax reform will cut profit this year by about $ billion, mainly because of a tax targeting earnings held abroad. About two thirds of the hit comes from the repatriation tax, while writing down .
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