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[Nekosohana]

Leona Helmsley aka "The Queen of Mean" is rumored to have told her housekeeper on one occasion that "We don't pay taxes. Only the little people pay taxes."

Apparently, 50% of US Corporations agree.

http://www.reuters.com/article/newsOne/idUSN1249465620080812

[Zero]

Nekosohana wrote: Leona Helmsley aka "The Queen of Mean" is rumored to have told her housekeeper on one occasion that "We don't pay taxes. Only the little people pay taxes."

Apparently, 50% of US Corporations agree.

http://www.reuters.com/article/newsOne/idUSN1249465620080812

The rich get richer. This will probably never change.

[Nekosohana]

Zero wrote: Nekosohana wrote: Leona Helmsley aka "The Queen of Mean" is rumored to have told her housekeeper on one occasion that "We don't pay taxes. Only the little people pay taxes."

Apparently, 50% of US Corporations agree.

http://www.reuters.com/article/newsOne/idUSN1249465620080812

The rich get richer. This will probably never change.

Indeed.

What I wonder is how a US corporation would get away with paying no or little taxes? They should have a 30% or higher tax rate since a corporate entity operates as an individual.

[Zero]

Nekosohana wrote: Zero wrote: Nekosohana wrote: Leona Helmsley aka "The Queen of Mean" is rumored to have told her housekeeper on one occasion that "We don't pay taxes. Only the little people pay taxes."

Apparently, 50% of US Corporations agree.

http://www.reuters.com/article/newsOne/idUSN1249465620080812

The rich get richer. This will probably never change.

Indeed.

What I wonder is how a US corporation would get away with paying no or little taxes? They should have a 30% or higher tax rate since a corporate entity operates as an individual.

Yeh, I don't get it either. Tax code and tax talk always confuses me. Fucking accountants.

[Cajun]

Nekosohana wrote: Zero wrote: Nekosohana wrote: Leona Helmsley aka "The Queen of Mean" is rumored to have told her housekeeper on one occasion that "We don't pay taxes. Only the little people pay taxes."

Apparently, 50% of US Corporations agree.

http://www.reuters.com/article/newsOne/idUSN1249465620080812

The rich get richer. This will probably never change.

Indeed.

What I wonder is how a US corporation would get away with paying no or little taxes? They should have a 30% or higher tax rate since a corporate entity operates as an individual.
First of all there is alot of play on words there. On one hand they compare the amount of tax they paid to the US to the amount of total revenue the company made worldwide. The reason companies don't put their headquarters in the US is to avoid double tax.

Assume a company makes 2 million. 1mil in the US and 1mil in the UK. They pay taxes based on the taxes in those countries but if they are based in the US they also pay a % although much less than regular income to the US for the money they made in the UK. Because of this many companies that are global put there headquarters in Bermuda where the rate of this tax is roughly half that of what it is in the US. Using the same numbers above they still pay US and UK income tax for the money they actually made in that country.

Now here is where it gets tricky. Sometimes there are situations where a company may buy something from another company and that bid may include several different global locations for services and delivery but they set it up where the entire transaction occurs in a tax friendly county. That’s when things get questionable but the reporter didn’t really comment on that they just compared global sales income to US income tax paid.

[itsoverjonny]

The U.S. has one of the highest corporate tax rates in the world. Any corporation that pays those taxes when they have legal ways to avoid them is doing a disservice to its shareholders.

Would you voluntarily pay more tax that you have to? Fuck no! That's like saying "I know I could get a deduction for my mortgage interest and my property taxes, but I'm not going to claim those deductions so that I can pay more".

Solution? Dramatically lower the corporate tax rate. I have seen studies that claim that U.S. companies would gladly repatriate HUNDREDS OF BILLIONS in profits if they could do so at a reasonable tax rate.

"Income" is VERY subjective, and it just gets more and more subjective as the entities being taxed get more complex.

I also wonder what this articles considers "corporations". The majority of corporate entities do not pay income tax BY DESIGN - all income flows to the tax returns of the entity's shareholders/partners/members - Subchapter S Corporations, Limited Liability Corporations, Partnerships, Limited Partnerships, etc.