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so sarge didnt read the article...
The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
But many of the companies the report found had paid no tax were likely small businesses that pay other taxes. Generally, many small firms, because they do not have shareholders, are able to shift corporate income to individual income.
"Small businesses that are going to be liable for a lot of income tax are likely to use other tax forms so they only pay individual income taxes," said Eric Toder, a senior fellow at the Tax Policy Center.
so sarge didnt read the article...
The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
But many of the companies the report found had paid no tax were likely small businesses that pay other taxes. Generally, many small firms, because they do not have shareholders, are able to shift corporate income to individual income.
"Small businesses that are going to be liable for a lot of income tax are likely to use other tax forms so they only pay individual income taxes," said Eric Toder, a senior fellow at the Tax Policy Center.
From the article. You may want to take a course in reading comprehension.
so sarge didnt read the article...
The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
But many of the companies the report found had paid no tax were likely small businesses that pay other taxes. Generally, many small firms, because they do not have shareholders, are able to shift corporate income to individual income.
"Small businesses that are going to be liable for a lot of income tax are likely to use other tax forms so they only pay individual income taxes," said Eric Toder, a senior fellow at the Tax Policy Center.
From the article. You may want to take a course in reading comprehension.
what does that have to do with 'not making enough money'? moreover, that is certainly not the case with major multinationals.
From the article. You may want to take a course in reading comprehension.
what does that have to do with 'not making enough money'? moreover, that is certainly not the case with major multinationals.
Major Corporations are paying their taxes dumb ass. And those people and Business not paying are doing so because they did not make enough to HAVE to pay taxes, though in almost every case they ARE paying taxes in a different venue then Federal Income tax, as the article explains.
LEARN how to read.
From the article:
The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
They didn't make enough money to pay taxes according to tax accounting.
Big Whoop.
From the article:
The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
They didn't make enough money to pay taxes according to tax accounting.
Big Whoop.
reading further, however, you see that these companies made billions of dollars. the fact of the matter is that the tax code has loopholes in it which allow some businesses to transfer their earnings to offshore subsidiaries, while they were earned stateside. when my company earns it's cash, me and my company pay our taxes right here. mobil where my gas card comes from and who makes billions in the US paid no taxes here from what i understand.
if you read that these companies 'didnt make enough money' from that quote, you dont know what you're talking about. flatly, that you dont think its a big whoop that american small businesses and their owners are burdened with most of america's corporate taxes, while companies like exxon dont bear any, is typical of the conservative supposition that bullshit like this is somehow good for the US and our economy.
reading further, however, you see that these companies made billions of dollars. the fact of the matter is that the tax code has loopholes in it which allow some businesses to transfer their earnings to offshore subsidiaries, while they were earned stateside. when my company earns it's cash, me and my company pay our taxes right here. mobil where my gas card comes from and who makes billions in the US paid no taxes here from what i understand.
if you read that these companies 'didnt make enough money' from that quote, you dont know what you're talking about. flatly, that you dont think its a big whoop that american small businesses and their owners are burdened with most of america's corporate taxes, while companies like exxon dont bear any, is typical of the conservative supposition that bullshit like this is somehow good for the US and our economy.
You need to look up the accounting definitions for REVENUE and net income.
The management of those companies have a fiduciary and legal responsibility to their shareholders to manage the tax strategy for the benefit of those shareholders.
The U.S. has tax treaties with other countries so that U.S. companies are not double taxed; if you wish to get rid of them, then be ready for a lot of unintended consequences that will disadvantage U.S. companies and their employees.
reading further, however, you see that these companies made billions of dollars. the fact of the matter is that the tax code has loopholes in it which allow some businesses to transfer their earnings to offshore subsidiaries, while they were earned stateside. when my company earns it's cash, me and my company pay our taxes right here. mobil where my gas card comes from and who makes billions in the US paid no taxes here from what i understand.
if you read that these companies 'didnt make enough money' from that quote, you dont know what you're talking about. flatly, that you dont think its a big whoop that american small businesses and their owners are burdened with most of america's corporate taxes, while companies like exxon dont bear any, is typical of the conservative supposition that bullshit like this is somehow good for the US and our economy.
You need to look up the accounting definitions for REVENUE and net income.
The management of those companies have a fiduciary and legal responsibility to their shareholders to manage the tax strategy for the benefit of those shareholders.
The U.S. has tax treaties with other countries so that U.S. companies are not double taxed; if you wish to get rid of them, then be ready for a lot of unintended consequences that will disadvantage U.S. companies and their employees.
some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability
They're like gold fish. Somebody waves some shiny anti-business thing in front of them, and they swim towards it with mouth open.