Off-Topic: Some of the taxes got paid
(William 'Bill' Dannelly Lake Specific)
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Name:
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MartiniMan
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Subject:
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Some of the taxes got paid
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Date:
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3/22/2018 9:50:18 AM
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At least the close to $1B in income from exercised stock options will be taxed by the recipients of the options at their marginal rate. And their foreign tax liability was $724 million so I'm guessing that of the $5B in net income a fair portion of it was international and not subject to U.S. taxes unless they repatriate the cash. They also deferred around $45 million in U.S. taxes that I suppose would eventually get paid. Either way, given how complex the tax code is I am not surprised that they can get their legion of lawyers and accountants to figure out a way to avoid paying taxes. But the title of the article is misleading. They will pay close to $1 billion in taxes on the $5 billion in income which is around 20%. Unfortunately most of that will go to foreign countries who probably don't have all the lobbyist inspired deductions like stock options to offset the tax liability.
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