> General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
> As a group, the 15 companies paid no federal income tax on $23 billion in profits in 2014, and they paid almost no federal income tax on $107 billion in profits over the past five years.
I'd be curious to see a study on the following: "Priceline relied heavily on a single tax break — writing off the value of executive stock options for tax purposes — to zero out its tax liability not just in 2014 but in 2013, 2012 and 2011 as well. In addition, the company admits that this tax break could offset all taxes on up to $1.2 billion in profits going forward. Mattel also reports enjoying $140 million in stock option tax breaks over the past five years. Former U.S. Senator Carl Levin (D-MI) has estimated that this tax break will costs $23 billion over the next decade.[iii]"
Wouldn't the executives receiving these stock options be paying taxes on them? The company is just passing along the funds from the company to the executive as compensation, but the individual is still going to pay taxes on them. Otherwise, they would be double taxed regardless?
With all due respect, I don't see ANYONE paying more taxes than they 'have to'... feel free to blame the bought & paid-for politicians. Laws re: taxation effectively nullify any "moral" arguments - aside from the fact that "morals" are subjective...
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[ 1.0 ms ] story [ 32.6 ms ] threadhttp://www.nytimes.com/2011/03/25/business/economy/25tax.htm...
> General Electric Routinely Pays Little or No State Income Taxes
http://ctj.org/ctjreports/2015/06/general_electric_routinely...
> As a group, the 15 companies paid no federal income tax on $23 billion in profits in 2014, and they paid almost no federal income tax on $107 billion in profits over the past five years.
http://ctj.org/ctjreports/2015/04/fifteen_of_many_reasons_wh...
Wouldn't the executives receiving these stock options be paying taxes on them? The company is just passing along the funds from the company to the executive as compensation, but the individual is still going to pay taxes on them. Otherwise, they would be double taxed regardless?