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Thread: 20 U.S. companies that paid 0% in taxes

  1. #31
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by gdgyva View Post
    PAID NO TAXES IN THE 2ND QUARTER

    i havent read the entire thread, but did anyone catch that?

    did they bother to find out which ones of the 20 paid no taxes for a YEAR?

    i paid zero taxes in the 2nd quarter.....my 1st quarter estimate plus credit from 2013, says i owed nothing as of June 30th

    That doesnt mean my taxes will be zero for the year

    geesh....cmon people

    Companies have good quarters/bad quarters

    They make estimations based upon annual predictions

    So those twenty didnt owe anything for a quarter

    BFD!

    Now...if you can prove to me that all 20 paid zero taxes in 2013, maybe we can have a conversation
    Despite widespread groans about the recent disclosure that Apple is finding ways to cut its federal tax bill, an analysis shows the computer giant is one of scores of corporations largely dodging the taxman.

    A surprising number of companies in the Standard & Poor's 500, 57, have found ways to pay effective tax rates of zero, according to a USA TODAY analysis of data from S&P Capital IQ.

    Corporate giants such as telecom firm Verizon, drugmaker Bristol-Myers Squibb and power management firm Eaton, all reported effective tax rates of 0% during the past 12 months. The findings underscore that while many companies bellyache about the top federal income tax rate of 35%, in reality, many pay much less than that, says Nick Yee of Gradient Analytics. "Investors hope company management is doing everything they can to generate profit, legally," he says. "But the tax code is gray, and there's often no set guidance."


    http://www.usatoday.com/story/money/...taxes/2480281/
    Killing one person is murder, killing 100,000 is foreign policy

  2. #32
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Montecresto View Post
    Despite widespread groans about the recent disclosure that Apple is finding ways to cut its federal tax bill, an analysis shows the computer giant is one of scores of corporations largely dodging the taxman.

    A surprising number of companies in the Standard & Poor's 500, 57, have found ways to pay effective tax rates of zero, according to a USA TODAY analysis of data from S&P Capital IQ.

    Corporate giants such as telecom firm Verizon, drugmaker Bristol-Myers Squibb and power management firm Eaton, all reported effective tax rates of 0% during the past 12 months. The findings underscore that while many companies bellyache about the top federal income tax rate of 35%, in reality, many pay much less than that, says Nick Yee of Gradient Analytics. "Investors hope company management is doing everything they can to generate profit, legally," he says. "But the tax code is gray, and there's often no set guidance."


    Large companies find ways to a zero tax rate

    Verizon 2013 annual report p18 of their report
    5.730
    19.6% effective tax rate


    Eaton annual report online version (page 29)
    Year ended December 31 2013 2012 2011
    (In millions except for per share data)
    Net sales $ 22,046 $ 16,311 $ 16,049
    Cost of products sold 15,369 11,448 11,261
    Selling and administrative expense 3,886 2,894 2,738
    Research and development expense 644 439 417
    Interest expense - net 271 208 118
    Other (income) expense - net (8) 71 (38)
    Income before income taxes 1,884 1,251 1,553
    Income tax expense 11 31 201
    Net income 1,873 1,220 1,352
    Less net income for noncontrolling interests (12) (3) (2)
    Net income attributable to Eaton ordinary shareholders $ 1,861 $ 1,217 $ 1,350
    Net income per ordinary share
    Diluted $ 3.90 $ 3.46 $ 3.93
    Basic 3.93 3.54 3.98
    Weighted-average number of ordinary shares outstanding
    Diluted 476.7 350.9 342.8
    Basic 473.5 347.8 338.3
    Cash dividends declared per ordinary share $ 1.68 $ 1.52 $ 1.36


    Bristol-Myers Squibb
    18
    Historically, the effective income tax rate is lower than the U.S. statutory rate of 35% due to our decision to indefinitely reinvest the
    earnings for certain of our manufacturing operations in Ireland and Puerto Rico. We have favorable tax rates in Ireland and Puerto Rico
    under grants not scheduled to expire prior to 2023.

    Noncontrolling Interest
    See “Note 3 Alliances” for a discussion of our Plavix and Avapro/Avalide partnerships with Sanofi for the territory covering the Americas.
    The decrease in noncontrolling interest in both periods resulted from the exclusivity loss in the U.S. of Plavix in May 2012 and Avapro/
    Avalide in March 2012. A summary of noncontrolling interest is as follows:
    Year Ended December 31,
    Dollars in Millions 2013 2012 2011
    Sanofi partnerships $ 36 $ 844 $ 2,323
    Other 1 14 20
    Noncontrolling interest-pre-tax 37 858 2,343
    Income taxes (20) (317) (792)
    Net earnings attributable to noncontrolling interest-net of taxes $ 17 $ 541 $ 1,551


    so the only 1 of the 3 that didnt pay taxes was Bristol....and right in their shareholder report they explain why
    it helps when you use facts
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  3. #33
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by gdgyva View Post
    Verizon 2013 annual report p18 of their report
    5.730
    19.6% effective tax rate


    Eaton annual report online version (page 29)
    Year ended December 31 2013 2012 2011
    (In millions except for per share data)
    Net sales $ 22,046 $ 16,311 $ 16,049
    Cost of products sold 15,369 11,448 11,261
    Selling and administrative expense 3,886 2,894 2,738
    Research and development expense 644 439 417
    Interest expense - net 271 208 118
    Other (income) expense - net (8) 71 (38)
    Income before income taxes 1,884 1,251 1,553
    Income tax expense 11 31 201
    Net income 1,873 1,220 1,352
    Less net income for noncontrolling interests (12) (3) (2)
    Net income attributable to Eaton ordinary shareholders $ 1,861 $ 1,217 $ 1,350
    Net income per ordinary share
    Diluted $ 3.90 $ 3.46 $ 3.93
    Basic 3.93 3.54 3.98
    Weighted-average number of ordinary shares outstanding
    Diluted 476.7 350.9 342.8
    Basic 473.5 347.8 338.3
    Cash dividends declared per ordinary share $ 1.68 $ 1.52 $ 1.36


    Bristol-Myers Squibb
    18
    Historically, the effective income tax rate is lower than the U.S. statutory rate of 35% due to our decision to indefinitely reinvest the
    earnings for certain of our manufacturing operations in Ireland and Puerto Rico. We have favorable tax rates in Ireland and Puerto Rico
    under grants not scheduled to expire prior to 2023.

    Noncontrolling Interest
    See “Note 3 Alliances” for a discussion of our Plavix and Avapro/Avalide partnerships with Sanofi for the territory covering the Americas.
    The decrease in noncontrolling interest in both periods resulted from the exclusivity loss in the U.S. of Plavix in May 2012 and Avapro/
    Avalide in March 2012. A summary of noncontrolling interest is as follows:
    Year Ended December 31,
    Dollars in Millions 2013 2012 2011
    Sanofi partnerships $ 36 $ 844 $ 2,323
    Other 1 14 20
    Noncontrolling interest-pre-tax 37 858 2,343
    Income taxes (20) (317) (792)
    Net earnings attributable to noncontrolling interest-net of taxes $ 17 $ 541 $ 1,551


    so the only 1 of the 3 that didnt pay taxes was Bristol....and right in their shareholder report they explain why
    it helps when you use facts
    I did use facts, presented by USAToday, you just didn't like them and went and found some of your own, but you should know that figures lie and liars figure.
    Killing one person is murder, killing 100,000 is foreign policy

  4. #34
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    Re: 20 U.S. companies that paid 0% in taxes

    i detest people, and publications who use "made up facts" to try and score political points

    i dont like it when the right does it

    i dont like it when the left does it

    and i am truly sick of all the corporate bashing that comes out of liberal rags like the usa today

    i am one of those people that actually reads quarterly and annual reports from companies

    i know...boring ****

    most companies pay taxes.....every year (lots of them)

    they use tax experts to defer, and alleviate tax burdens

    same thing most people on this board probably do with their personal taxes

    corporations provide jobs....good jobs....

    constantly bashing them in articles like this (made up bull****)

    bad idea.....
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

  5. #35
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    Re: 20 U.S. companies that paid 0% in taxes

    I'm sure that market WATCH reads more than gdgyva!

    10 U.S. companies paying the least
    Killing one person is murder, killing 100,000 is foreign policy

  6. #36
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Montecresto View Post
    How many corporations effectively pay 35%? And did you even read the op?
    Yeah I read it and I quoted it which is what you responded too. What I quoted with in the first sentence.

    However corporations are leaving this country not because of low taxes, it's because of high taxes. And Obama is going around claiming anyone that leaves the US to get a lower tax rate is unpatriotic. What is unpatriotic is Obama's refusal to reform the corporate tax laws so companies have no desire to leave.

    So whatever your claim is about who pays 35% means nothing, corporations are leaving because of high taxes. Now what is your argument?
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

  7. #37
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by 99percenter View Post
    http://finance.yahoo.com/news/the-in...145353359.html

    "Merck, the second largest pharmaceutical company in the U.S., actually had a negative effective tax rate of 7.5% during the second quarter, which means it got a tax credit. Eight of the 20 companies were in real estate or real estate-related businesses."

    Looks like the "job creator's" are overtaxed.
    seems like the best solution is this :

    1. charge every corporation a vastly lower rate that is competitive with or even lower than what they're paying in Europe. the ones big enough to find sneaky ways to dodge even the low rate get their products tariffed.

    2. all individual income is taxed as income above a cap, including investment income.

    that's what i support doing, anyway.

  8. #38
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Montecresto View Post
    Despite widespread groans about the recent disclosure that Apple is finding ways to cut its federal tax bill, an analysis shows the computer giant is one of scores of corporations largely dodging the taxman.

    A surprising number of companies in the Standard & Poor's 500, 57, have found ways to pay effective tax rates of zero, according to a USA TODAY analysis of data from S&P Capital IQ.

    Corporate giants such as telecom firm Verizon, drugmaker Bristol-Myers Squibb and power management firm Eaton, all reported effective tax rates of 0% during the past 12 months. The findings underscore that while many companies bellyache about the top federal income tax rate of 35%, in reality, many pay much less than that, says Nick Yee of Gradient Analytics. "Investors hope company management is doing everything they can to generate profit, legally," he says. "But the tax code is gray, and there's often no set guidance."


    Large companies find ways to a zero tax rate
    Great, no taxes, love it.

    And the ones that do pay taxes are leaving to get a better tax rate.
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

  9. #39
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by 99percenter View Post
    http://finance.yahoo.com/news/the-in...145353359.html

    "Merck, the second largest pharmaceutical company in the U.S., actually had a negative effective tax rate of 7.5% during the second quarter, which means it got a tax credit. Eight of the 20 companies were in real estate or real estate-related businesses."

    Looks like the "job creator's" are overtaxed.
    Why do you 99 percenters bring this tripe into a forum?

    A smart person would verify information for accuracy before propagating a journalists lie. The media is untrustworthy today and everyone should know it.

    I looked at the first company listed. 2014 Q 2, Merck already paid $947 million in taxes. They expect to pay between $2.5 to 2.8 billion for 2014. I didn't bother checking the other nine. Maybe you should.

    http://phx.corporate-ir.net/External...F8VHlwZT0z&t=1

  10. #40
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    There's no question that the U.S. corporate tax system is broken, as many CEOs would argue. The problem, however, is not only that corporate tax rates are too high -- at 35% they are the highest in the world.

    http://finance.yahoo.com/news/the-in...145353359.html
    The rates and deductible items both should be reduced.

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