The US corporate income tax rate is 35%. Yet this year, Google, which made $5.5 billion in revenues, only paid an effective tax rate of 2.4%. Indeed, it’s not unusual for a corporation to pay only 6-7% in effective taxes.
Such numbers put you and me and most small businesses to shame. What gives?
It turns out that tax credits aren’t the only trick corporations use to evade taxes. From Intel to Bath & Body Works, most big American corporations have a subsidiary and income shifting scheme that radically skews the amounts they end up paying the IRS. Here are five of the main components that help corporations write pint-sized IRS checks.
5 Tricks Corporations Use to Avoid Paying Taxes
Posted by iya.villa under TaxesFrom http://www.businesspundit.com 4934 days ago
Who Voted for this Story
Subscribe
“In the ever-evolving landscape of Search Engine Optimization (SEO),...”
“Rachel: Great to hear! Thanks for your kind words! :)
All the Best,
Martin...”
“Thank you, Martin. That's a fantastic motto... and I couldn't agree more!...”
“Lisa: Good to hear! Thanks for your response....”
“For sure, I know I did years ago when I was working for others....”
Comments
4935 days ago
businessavante