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Joe is doing a good job!  Effective Jan 1 :thumbsup:

 

Two big changes to the tax code for corporations

The law also has two big changes to the tax code that will affect businesses in 2023.

 

First, a new 15% corporate minimum tax on corporations with book income above $1 billion takes effect and will set a new floor for many of America’s biggest businesses when it comes to tax time.

Congress’s Joint Committee on Taxation reported in early August that about 150 companies could see their tax situation change as a result of the new rules. But the final tally may be less after last-minute changes were made to the bill to include some exceptions for manufacturers.

A another analysis by University of North Carolina Business Professor Jeffrey Hoopes found that the revised law is likely to hit companies like Amazon (AMZN), Berkshire Hathaway (BRK-A), Ford (F), AT&T (T), and eBay (EBAY) the hardest based on what they paid in 2021.

“It's going to target companies who have a lot of financial accounting income, but pay relatively little in tax,” he said. Amazon infamously paid $0 in taxes in both 2017 and 2018 even while making billions in profits thanks to a host of tax credits, loopholes, and exemptions.

 

https://www.yahoo.com/finance/news/these-3-big-pieces-of-bidens-agenda-kick-off-jan-1-200502039.html

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4 minutes ago, Sleepr2 said:

You think the government should spend the taxpayers money responsibly? 

Stick to the OP moron.  You cool with companies paying zero? Seems pretty reasonable to require a 15% minimum.  You’re fucking useful idiot 

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23 minutes ago, SnowRider said:

You think multi billion dollar corps should be allowed to not pay taxes?  

Corporations don't pay taxes...they pass whatever burden they can't write off on to there consumers. 

 

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18 minutes ago, Sleepr2 said:

You think the government should spend the taxpayers money responsibly? 

Stick to the OP moron.  You cool with companies paying zero? Seems pretty reasonable to require a 15% minimum.  You’re fucking useful idiot 

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1 minute ago, SkisNH said:

Corporations don't pay taxes...they pass whatever burden they can't write off on to there consumers. 

 

Sure - let’s just throw our hands up and let them all avoid paying taxes.  Why not?  :lol: 

 

So many bootlickers :lmao: 

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4 minutes ago, SnowRider said:

Stick to the OP moron.  You cool with companies paying zero? Seems pretty reasonable to require a 15% minimum.  You’re fucking useful idiot 

We need to simplify the tax code for both individuals and businesses.  

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4 minutes ago, SnowRider said:

Sure - let’s just throw our hands up and let them all avoid paying taxes.  Why not?  :lol: 

 

So many bootlickers :lmao: 

Not a bootlicker....part of the pricing strategy for my business was tax policy.  Sorry, fact are facts.

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10 minutes ago, SnowRider said:

Sure - let’s just throw our hands up and let them all avoid paying taxes.  Why not?  :lol: 

 

So many bootlickers :lmao: 

When we advocated for a flat tax you cried like the cunt that you are...

When they implemented a corporate flat tax you jerked off like the pimple face teenage you are. 

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5 minutes ago, SkisNH said:

When we advocated for a flat tax you cried like the cunt that you are...

When they implemented a corporate flat tax you jerked off like the pimple face teenage you are. 

It’s not a corporate flat tax - it’s a minimum. I’m for progressive effective tax rates both personal and corporate.  You carry their water and lick their boots.  Typical Repug pussy .  

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17 minutes ago, teamgreen02 said:

We need to simplify the tax code for both individuals and businesses.  

Just make them one and the same with no differences.  Call it the federal tax code and businesses and individuals use the exact same deduction, credits and rates

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18 minutes ago, SkisNH said:

Corporations don't pay taxes...they pass whatever burden they can't write off on to there consumers. 

 

Wasting your time.  Not just corporations, any business.  Liberal voters are too stupid to realize the consumer (middle class) is the one who pays. 

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Just now, Cold War said:

Wasting your time.  Not just corporations, any business.  Liberal voters are too stupid to realize the consumer (middle class) is the one who pays. 

No - Repugs have been pushing Laffers trickled on for 40 years.  It doesn’t work but Repugs, corps, and oligarchs want people to believe:

6109AA8C-D3FF-4B73-8410-351E11BED87C.jpeg

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7 minutes ago, Cold War said:

Wasting your time.  Not just corporations, any business.  Liberal voters are too stupid to realize the consumer (middle class) is the one who pays. 

Most of the middle class has no income tax obligations…

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