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Pensacola Discussion Forum » Politics » More ways for corporations to avoid federal taxes

More ways for corporations to avoid federal taxes

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othershoe1030

othershoe1030

Well, isn't this just wonderful? This should set everyone's hair on fire, those who want to see the deficit brought down especially. Guess this is one way to starve the government, shrink it to the size that allows it to be drowned in the bathtub. If this keeps up we'll be competing with Albania for quality infrastructure.


A small but growing number of American corporations, operating in businesses as diverse as private prisons, billboards and casinos, are making an aggressive move to reduce — or even eliminate — their federal tax bills.

They are declaring that they are not ordinary corporations at all. Instead, they say, they are something else: special trusts that are typically exempt from paying federal taxes.

The trust structure has been around for years but, until recently, it was generally used only by funds holding real estate. Now, the likes of the Corrections Corporation of America, which owns and operates 44 prisons and detention centers across the nation, have quietly received permission from the Internal Revenue Service to put on new corporate clothes and, as a result, save many millions on taxes.

http://www.nytimes.com/2013/04/22/business/restyled-as-real-estate-trusts-varied-businesses-avoid-taxes.html?hp&_r=1&

NaNook

NaNook

othershoe1030 wrote:Well, isn't this just wonderful? This should set everyone's hair on fire, those who want to see the deficit brought down especially. Guess this is one way to starve the government, shrink it to the size that allows it to be drowned in the bathtub. If this keeps up we'll be competing with Albania for quality infrastructure.


A small but growing number of American corporations, operating in businesses as diverse as private prisons, billboards and casinos, are making an aggressive move to reduce — or even eliminate — their federal tax bills.

They are declaring that they are not ordinary corporations at all. Instead, they say, they are something else: special trusts that are typically exempt from paying federal taxes.

Forgive me for saying you are a complete idiot! Do you even know the tax codes on "special" trusts? Real Estate "special" trusts saved our country. They are called REITs....they have been around for many years.

The Trust doesn't pay taxes, the Unit owners do. The Trust has to pass through 90+ percent of their profits to unit holders. These Trusts operate in every industry. The Units are traded every day on the major exchanges. There are ETFs and Mutual Funds investing in these units.

Every unit holder is paying taxes, some more than others.

You don't know what you're talking about........

The trust structure has been around for years but, until recently, it was generally used only by funds holding real estate. Now, the likes of the Corrections Corporation of America, which owns and operates 44 prisons and detention centers across the nation, have quietly received permission from the Internal Revenue Service to put on new corporate clothes and, as a result, save many millions on taxes.

http://www.nytimes.com/2013/04/22/business/restyled-as-real-estate-trusts-varied-businesses-avoid-taxes.html?hp&_r=1&

othershoe1030

othershoe1030

NaNook wrote:
othershoe1030 wrote:Well, isn't this just wonderful? This should set everyone's hair on fire, those who want to see the deficit brought down especially. Guess this is one way to starve the government, shrink it to the size that allows it to be drowned in the bathtub. If this keeps up we'll be competing with Albania for quality infrastructure.


A small but growing number of American corporations, operating in businesses as diverse as private prisons, billboards and casinos, are making an aggressive move to reduce — or even eliminate — their federal tax bills.

They are declaring that they are not ordinary corporations at all. Instead, they say, they are something else: special trusts that are typically exempt from paying federal taxes.

Forgive me for saying you are a complete idiot! Do you even know the tax codes on "special" trusts? Real Estate "special" trusts saved our country. They are called REITs....they have been around for many years.

The Trust doesn't pay taxes, the Unit owners do. The Trust has to pass through 90+ percent of their profits to unit holders. These Trusts operate in every industry. The Units are traded every day on the major exchanges. There are ETFs and Mutual Funds investing in these units.

Every unit holder is paying taxes, some more than others.

You don't know what you're talking about........

The trust structure has been around for years but, until recently, it was generally used only by funds holding real estate. Now, the likes of the Corrections Corporation of America, which owns and operates 44 prisons and detention centers across the nation, have quietly received permission from the Internal Revenue Service to put on new corporate clothes and, as a result, save many millions on taxes.

http://www.nytimes.com/2013/04/22/business/restyled-as-real-estate-trusts-varied-businesses-avoid-taxes.html?hp&_r=1&

Tell it to the NYT's Nan. This is apparently something that is coming into more popular use. According to the article the US Treasury is loosing millions/year.

I guess if you think it is cool to work the system (no let me correct that: create a system like this) and basically shirk your responsibilities then this is great news for you. Keep up the good work. Soon the country will be broke since we obviously can't cut back on the military jobs program we have building all kinds of things we don't need. So, okay, let's just go down the tubes and get it over with. Now I see why people need guns. We're looking at guys in the back of pickup trucks with weapons just like Somalia, I can hardly wait.

You are right, I don't claim to know much about tax law but I know a broken system when I see it and this sort of activity does nothing to keep the country strong. It only lets some more corporations dodge the tax man. Soon there will be only a few thousand people paying taxes I guess. Half will be too poor to pay them, nearly half will have slicky-dick accountants to wheedle their way out of paying any so there will be a small sliver of unfortunate households in the middle of the income scale who are stuck with a tax bill.

Guest


Guest

http://www.econlib.org/library/Enc/CorporateTaxation.html

2seaoat



It has been about lost revenue for 15 years......the wars and unfunded benefits could have never existed.....and we still would have had shortfalls.....cannot imagine any person on this forum running their business without revenue......This has been a coordinated attack by terrorist to harm this country.....and wealth is totally mobile in 2013.....no patriotism for those who want a free ride.

Margin Call

Margin Call

Not really sure why corporations pay taxes anyway. Hiding money offshore is very anti-job-cap/ex creation.

Markle

Markle

othershoe1030 wrote:Well, isn't this just wonderful? This should set everyone's hair on fire, those who want to see the deficit brought down especially. Guess this is one way to starve the government, shrink it to the size that allows it to be drowned in the bathtub. If this keeps up we'll be competing with Albania for quality infrastructure.


A small but growing number of American corporations, operating in businesses as diverse as private prisons, billboards and casinos, are making an aggressive move to reduce — or even eliminate — their federal tax bills.

They are declaring that they are not ordinary corporations at all. Instead, they say, they are something else: special trusts that are typically exempt from paying federal taxes.

The trust structure has been around for years but, until recently, it was generally used only by funds holding real estate. Now, the likes of the Corrections Corporation of America, which owns and operates 44 prisons and detention centers across the nation, have quietly received permission from the Internal Revenue Service to put on new corporate clothes and, as a result, save many millions on taxes.

http://www.nytimes.com/2013/04/22/business/restyled-as-real-estate-trusts-varied-businesses-avoid-taxes.html?hp&_r=1&

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

othershoe1030

othershoe1030

Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

Markle

Markle

othershoe1030 wrote:Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

I presume that like other Progressives this is a confusing, impossible to comprehend question.

Once again....

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

othershoe1030

othershoe1030

Markle wrote:
othershoe1030 wrote:Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

I presume that like other Progressives this is a confusing, impossible to comprehend question.

Once again....

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

I presume that like other right wingers this is a confusing, impossible to comprehend answer: it is not the tax rate that matters it is the actual tax paid or refund given to the corporations that matters.


http://www.forbes.com/sites/chrisbarth/2011/12/14/29-companies-that-paid-millions-for-lobbying-and-didnt-pay-taxes/

Markle

Markle

othershoe1030 wrote:
Markle wrote:
othershoe1030 wrote:Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

I presume that like other Progressives this is a confusing, impossible to comprehend question.

Once again....

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

I presume that like other right wingers this is a confusing, impossible to comprehend answer: it is not the tax rate that matters it is the actual tax paid or refund given to the corporations that matters.


http://www.forbes.com/sites/chrisbarth/2011/12/14/29-companies-that-paid-millions-for-lobbying-and-didnt-pay-taxes/

Who pays corporate taxes?

othershoe1030

othershoe1030

Markle wrote:
othershoe1030 wrote:
Markle wrote:
othershoe1030 wrote:Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

I presume that like other Progressives this is a confusing, impossible to comprehend question.

Once again....

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

I presume that like other right wingers this is a confusing, impossible to comprehend answer: it is not the tax rate that matters it is the actual tax paid or refund given to the corporations that matters.


http://www.forbes.com/sites/chrisbarth/2011/12/14/29-companies-that-paid-millions-for-lobbying-and-didnt-pay-taxes/

Who pays corporate taxes?

Go ahead, I know you are dying to tell us.

Guest


Guest

I don't think there should be any benefit/subsidy or penalty/tax from the govt on business...

lord forbid the natural course of things isn't manipulated by govt... if you can't see the bottom line you're blind.

Markle

Markle

othershoe1030 wrote:
Markle wrote:
othershoe1030 wrote:
Markle wrote:
othershoe1030 wrote:Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

I presume that like other Progressives this is a confusing, impossible to comprehend question.

Once again....

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

I presume that like other right wingers this is a confusing, impossible to comprehend answer: it is not the tax rate that matters it is the actual tax paid or refund given to the corporations that matters.


http://www.forbes.com/sites/chrisbarth/2011/12/14/29-companies-that-paid-millions-for-lobbying-and-didnt-pay-taxes/

Who pays corporate taxes?

Go ahead, I know you are dying to tell us.

You're just afraid to post it because it destroys your own argument to punish success.

As you well know, you and I pay them, the customer. Where else does it come from? President Barack Hussein Obama's stash?
More ways for corporations to avoid federal taxes 751animated-obama-money

Margin Call

Margin Call

Markle wrote:
othershoe1030 wrote:
Markle wrote:
othershoe1030 wrote:Oh Paaaleeze, Markle. corporate taxes could be at 80% and it wouldn't matter in the least because none of them pay the "going rate" That is a joke and a talking point and that is all.

I presume that like other Progressives this is a confusing, impossible to comprehend question.

Once again....

Who pays corporate taxes? We have the highest corporate taxes in the world, how does that encourage companies to open and employ businesses here in America.

I presume that like other right wingers this is a confusing, impossible to comprehend answer: it is not the tax rate that matters it is the actual tax paid or refund given to the corporations that matters.


http://www.forbes.com/sites/chrisbarth/2011/12/14/29-companies-that-paid-millions-for-lobbying-and-didnt-pay-taxes/

Who pays corporate taxes?

Consumers and investors...depends on pricing power.

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