tj444 -> RE: Blacks being hunted in LA (7/11/2016 7:16:18 PM)
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ORIGINAL: Edwird And yes, if they are foreign corporations, the net earnings will be exported. But unlike US corporations, they will actually pay their tax before doing so. US corporations like Google, etc actually negotiate with the IRS to pay a lot less tax (cut down to about half!), its called "Advance Pricing Agreements".. imo, its totally sickening.. I expect Trump is on that gravy train too.. but since his corps are private and these deals are private there is no way to prove he is (unless someone blows the whistle).. Gotta love America, huh? " The tax break that corporate America wants kept secret When Oracle reported its latest quarterly earnings last month, most investors focused on the fact that its dividend doubled. The number that got less notice in its annual report a week later was its low tax bill — nearly half the standard 35% corporate rate. It’s a significant change from a decade ago, when the software giant began thinking about higher tax costs amid plans for growth. It turned to an obscure solution: confidential pacts forged between the Internal Revenue Service and multinational corporations that critics say can unwittingly bless aggressive tax strategies. In 2003 Oracle disclosed for the first time that it had sealed two such long-term pacts with the IRS and was negotiating additional ones. The pacts, known as advance pricing agreements, effectively lock the IRS into agreeing with a company’s tax planning over many years, both future and past. Despite costing companies up to millions of dollars in fees to prepare and taking up to four years to seal, the agreements are nonetheless worth it to an elite group of big corporations that have them, including Google & Amazon. " http://fortune.com/2013/07/22/the-tax-break-that-corporate-america-wants-kept-secret/
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