And hell, I didn't work the last four months of the year!
I'm not talking as a percentage, I'll talking about actual dollar amount.
So now we know that GE's "imagination at work" describes what their tax lawyers and accountants do.
Smarter than
2 days ago
Yes, but what about all the payroll and sales taxes they paid? Corporations are political people, my friend. Well, except in criminal court. Also does not apply in Maryland, Connecicut or Rhode Island.
ReplyDelete( ducks and covers head ).
Their customers pay sales taxes. The companies just collect them. If the companies are buying stuff for resale or as manufacturing components, they don't pay sales tax on those purchases.
ReplyDeletePayroll taxes? They're not paying any stinking payroll taxes.
Well, I failed at trying to be the Devil's advocate. You're right again.
ReplyDeleteCompanies do pay sales tax on stuff they buy - but you're right, other taxes are paid their employee.
As I understand it (dimly), corporations get out of paying income taxes by finding accounting rules showing them making little or no profit. Kind of like all the tax shelter rules the 1% enjoy.
It's good to play the game if you're the one writing the rules.