Author Topic: GM Doesn't Have To Pay Taxes!!!!!  (Read 433 times)

SAMSON123

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GM Doesn't Have To Pay Taxes!!!!!
« on: November 03, 2010, 09:07:47 AM »


 (Newser)  – General Motors won’t be government-owned for much longer, but it’s getting a parting gift from Uncle Sam: a $45.4 billion tax exemption that could leave it tax-free for years. GM will be able to shield its future profits using past losses using so-called “tax-loss carry-forwards,” the Wall Street Journal reports. Companies that have recently changed ownership aren’t supposed to be able to take full advantage of those, but a little-noticed ruling last year exempted TARP companies from that restriction.

The government decided that giving companies the tax shield would make them more attractive to investors, raising the sale price of their assets enough to make up for the lost tax revenue, sources tell the Journal. Besides, that tax revenue wouldn’t exist if the companies failed.
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Skeletor

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Re: GM Doesn't Have To Pay Taxes!!!!!
« Reply #1 on: November 03, 2010, 09:54:58 AM »
Government Motors

Soul Crusher

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Re: GM Doesn't Have To Pay Taxes!!!!!
« Reply #2 on: November 03, 2010, 09:59:09 AM »
Translation - monies to the unions are more important than money to the treasury. 

SAMSON123

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Re: GM Doesn't Have To Pay Taxes!!!!!
« Reply #3 on: November 03, 2010, 12:45:54 PM »
Translation - monies to the unions are more important than money to the treasury. 

Try reading the article first...this has nothing to do with unions...
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24KT

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Re: GM Doesn't Have To Pay Taxes!!!!!
« Reply #4 on: November 03, 2010, 01:09:06 PM »
Try reading the article first...this has nothing to do with unions...

Leave him alone, ...he's just having a pavlovian moment... AGAIN!  ;D
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