01-09-2017, 11:47 AM
http://money.cnn.com/2016/04/13/pf/taxes/gao-corporate-taxes/
http://fortune.com/2016/10/06/fortune-500-tax-haven/
They'll just consider it more of a loss and have more to write off at the federal level.
Quote:Nearly 20% of large U.S. corporations that reported a profit on their financial statements in 2012 ended up paying exactly nothing in U.S. corporate income taxes.
...
Prior to 2012, the GAO estimated that 24% of profitable large corporations owed no income tax in 2011, 22% owed nothing in 2010 and 21% owed nothing in 2009.
http://fortune.com/2016/10/06/fortune-500-tax-haven/
Quote:According to a new report from the progressive group Citizens for Tax Justice (CTJ), America's largest companies by revenue are stashing a record $2.5 trillion in overseas "tax havens," up $400 million from last year's count. As long as that money remains offshore, these companies can avoid paying U.S. corporate tax on those profits, a dynamic that CTJ argues disadvantages smaller American companies without foreign subsidiaries; domestic-only firms often have to pay the full 35% corporate tax rate—among the highest in the world—in addition to state corporate taxes.
They'll just consider it more of a loss and have more to write off at the federal level.