American corporations are required to pay 50% tax on the difference between what they list as the profit l on their financial statements minus what they list on their income tax returns. We shall call it the Corporate Profit Shifting Tax.
Company A files corporate financial statements saying they had record profits of $300,000,000,000.00.
Company A says on it's tax returns that it only made enough to owe $50,000.
Company A owed $149,999,975,000.00 in Corporate Profit Shifting Taxes.
In the scenario you describe, Company A, just like IQ 45, has lied massively on their taxes, and the chief execs should go to jail, and the company hit with massive fines.
Here is the solution (Score:2)
Company A files corporate financial statements saying they had record profits of $300,000,000,000.00.
Company A says on it's tax returns that it only made enough to owe $50,000.
Company A owed $149,999,975,000.00 in Corporate Profit Shifting Taxes.
Give me one reason wh
Re: (Score:2)
In the scenario you describe, Company A, just like IQ 45, has lied massively on their taxes, and the chief execs should go to jail, and the company hit with massive fines.
Re:Here is the solution (Score:2)