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What positions did you hold?
Did you read the article from Forbes magazine.
Do you think you know more than the U .S. Government Accountability Office?
Then provide data from reliable sources that they are wrong.
I'll refute you when you post something of substance instead of repeating a tired political phrase like "you vote against your own best interest!!!!!". For example, like I already did in my second post in this thread when you opened with meaningless buzzwords and ridiculously false claims like those against ge.
I'll refute you when you post something of substance instead of repeating a tired politucal phrase like "you vote against your own best interest!!!!!". For example, like I already did in my second post in this thread. You have no actual response.
You have no actual statement worth refuting. What positions did you hold that makes you an authority on corporate taxes and credits?
Read the Forbes article. If you don't understand it ask someone to explain it to you.
You have no actual statement worth refuting. What positions did you hold that makes you an authority on corporate taxes and credits?
Read the Forbes article. If you don't understand it ask someone to explain it to you.
You posted that marginal tax rates aren't actually paid and that effective tax rates are.
Whoa.
What else do you have for me boy wonder? perhaps you're better suited for the politics forums. Bye.
You have no actual statement worth refuting. What positions did you hold that makes you an authority on corporate taxes and credits?
Read the Forbes article. If you don't understand it ask someone to explain it to you.
So, you have never seen the costs rise on things you buy, right?
Do you ever read company financial statements? Have you seen increases in operating expenses? How do you think companies adjust for increased costs?
So, you have never seen the costs rise on things you buy, right?
Do you ever read company financial statements? Have you seen increases in operating expenses? How do you think companies adjust for increased costs?
Yes, I am an accountant and worked as credit manager for major corporations. I know how to read financial statements and infer if customers, other corporations, can pay their bills or not. Can you?
Companies set prices per laws of supply and demand and competition. That is the beauty of a capital economy. They almost never consider taxes as a factor, not is it a factor in how they expand business. If Walmart raises the price of fertilizer Amazon will ship it free for a lower price.
Yes, I am an accountant and worked as credit manager for major corporations. I know how to read financial statements and infer if customers, other corporations, can pay their bills or not. Can you?
Companies set prices per laws of supply and demand and competition. That is the beauty of a capital economy. [b]They almost never consider taxes as a factor, not is it a factor in how they expand business /[b]. If Walmart raises the price of fertilizer Amazon will ship it free for a lower price.
It's so abundantly clear you don't know what you're talking about. No major business decisions get made at a major corporation without talking to tax and legal.
There is additional detail regarding the provision for income taxes in the footnotes to the financial statements. The provision is split between current and deferred taxes. That is further split into federal, state and foreign taxes of each of current and deferred.
The current federal income tax expense is primarily comprised of what is expected to be on the current year US corporate income tax return. Other items going through current would be prior year provision to return reconciling items, current year expense on uncertain tax positions and any audit settlements that weren't previously accrued for.
Additionally, the statement of cash flows will disclose the amount of income taxes paid during the year (in total). That can give the reader an idea of what portion of the current tax expense is actually going out the door.
So you are correct that the exact number isn't known, but the reader of the financial statements can get a pretty good idea of what the number is.
You are right that there are clues in many places.
But note the information in those financial statement footnotes are unrelated to the actual corporate tax return. The information in those footnotes is related to financial statement calculations per FASB, SEC, GAAP rules, none of which have anything to do with the Tax Books or tax accounting. Heck, even one is accrual and the other is cash!
In major corporations, the people who file the federal income tax return are in different departments than the people who prepare the SEC-filed financial statements. They wouldn't recognize each other if they bumped into each other in the company cafeteria.
Regarding the clues, a team of forensic tax accountants, given access to a decades' worth of all public information & filings and access to various working papers could probably produce an estimate that is within 5% to 10% or so. But those people don't work for free, and they are not the source of the stupid articles written by lit majors that "GE pays no taxes."
Maybe that is why you don't know that corporations need to release their financial statements to stock holders. Do you own any stocks?
All publicly traded corporations already release their financial statements to shareholders and the SEC. The financial statements have been public information for longer than you've been alive.
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perhaps you're better suited for the politics forums. Bye.
