Revere
Rookie
- Banned
- #1
Uh, is this one of those things Darrell Issa should not "waste taxpayers' money" investigating?
Thanks, unions!
Love - Barry
GM Could Be Free of Taxes for Years - WSJ.com
Thanks, unions!
Love - Barry
GM Could Be Free of Taxes for Years - WSJ.com
General Motors Co. will drive away from its U.S.-government-financed restructuring with a final gift in its trunk: a tax break that could be worth as much as $45 billion.
GM, which plans to begin promoting its relisting on the stock exchange to investors this week, wiped out billions of dollars in debt, laid off thousands of employees and jettisoned money-losing brands during its U.S.-funded reorganization last year.
Now it turns out, according to documents filed with federal regulators, the revamping left the car maker with another boost as it prepares to return to the stock market. It won't have to pay $45.4 billion in taxes on future profits.