Happy New Year - Corporate Minimum Tax goes into effect

[Burgermeister]

Part of the "Inflation Reduction Act", because nothing fights inflation better than higher corporate costs.



Good summary - The new corporate minimum tax: overview and highlights

 

[ReinyDays]

"The corporate alternative minimum tax imposes a 15% tax on the “adjusted financial statement income” of certain corporations and corporate groups that meet a $1 billion average annual adjusted financial statement income test"

It must really suck to have a billion dollars of income ... that's $150,000,000 in income taxes alone ... entire pennies to each shareholder ...

 

[Dont Taz Me Bro]

After the corporate income tax rate was reduced five years ago the company I work for raised the minimum starting wage to $15 an hour and gave a $1000 bonus to all employees under a certain salary grade.

Then nine months later they laid off 1000 people

 

[jknowgood]

After the corporate income tax rate was reduced five years ago the company I work for raised the minimum starting wage to $15 an hour and gave a $1000 bonus to all employees under a certain salary grade.

Then nine months later they laid off 1000 people

You sure that wasn't because of an epidemic?

 

[busybee01]

Part of the "Inflation Reduction Act", because nothing fights inflation better than higher corporate costs.



Good summary - The new corporate minimum tax: overview and highlights

Wow multi-billion-dollar corporations paying 15%. I suppose they will be filing for bankruptcy any day now.

 

[Godboy]

"The corporate alternative minimum tax imposes a 15% tax on the “adjusted financial statement income” of certain corporations and corporate groups that meet a $1 billion average annual adjusted financial statement income test"

It must really suck to have a billion dollars of income ... that's $150,000,000 in income taxes alone ... entire pennies to each shareholder ...

Now we will have to pay for the tax increase every time we buy their products.

 

[basquebromance]

Now we will have to pay for the tax increase every time we buy their products.

i'll pay for you, bro!

 

[Superbadbrutha]

After the corporate income tax rate was reduced five years ago the company I work for raised the minimum starting wage to $15 an hour and gave a $1000 bonus to all employees under a certain salary grade.

Then nine months later they laid off 1000 people

They also made record profits last year, so much for giving that money back to the employees.

 

[Harpy Eagle]

Have to admit I am finding it hard to feel bad that Corporations will finally have to pay close to the percent the wife and I do.

 

[ReinyDays]

Now we will have to pay for the tax increase every time we buy their products.

Don't buy their products then ... focus all your spending on corporations with less than a billion dollars a year profit ... buy local ...

 

[SassyIrishLass]

Look for prices to go up....15 percent

 

[Godboy]

Don't buy their products then ... focus all your spending on corporations with less than a billion dollars a year profit ... buy local ...

Thats your solution? Tax the shit out of corporations, they raise prices, we stop buying their products, then no revenue comes in? This is your brilliant idea? God dammit you democrats are fucking stupid.

 

[ReinyDays]

Thats your solution? Tax the shit out of corporations, they raise prices, we stop buying their products, then no revenue comes in? This is your brilliant idea? God dammit you democrats are fucking stupid.

I've been buying local for years ... I don't go into Walmart because they don't sell things I generally buy ... we're discussing income, not revenue ... there's a difference ... talk about fucking stupid ...

MY solution is to raise prices 30%, and tell everyone this is because of the 15% tax, and I make nowhere close to a billion a year ... it's called 100% margins on a tax I won't pay ... never skip on an opportunity to profiteer ...

 

[Resnic]

Companies not paying taxes? That's a lie.