It’s a rare day when I can say that I agree with the National Federation of Independent Business (NFIB) But apparently we agree with income tax rate parity between small businesses that pay their taxes through their own personal returns and C-corporations. In the early 2000s we advocated to the South Carolina General Assembly that […]
Miracle. The NFIB and I agree on something Read More »
Washington, D.C. – A comprehensive, five-year study of 288 profitable Fortune 500 companies finds that 26 paid no federal corporate income tax over the five-year period; 111 paid no federal corporate income tax in at least one of the last five years, and one-third paid a U.S. tax rate less than 10 percent over the same period,
The Hill’s Congress Blog 8/2/13 By Frank Knapp Jr. – 08/02/13 President Obama is right to address the urgent need to modernize our once grand infrastructure. Unfortunately, the president’s corporate tax reforms would leave us in a deeper hole down the road. The president’s plan to cut corporate tax rates responds to the tireless
Obama’s tax plan a bad bargain for small business Read More »
Last month in Great Britton the collection of the world’s top eight economic nations (the G8) decided to get tough on multinational corporations evading paying taxes. Last week the top 20 economic nations (the G-20) endorsed the outline of a plan to do the same thing. The full plan by the Organization for Economic Cooperation
Nations pulling together to fight multinational corporation freeloaders Read More »
You pay your taxes. Your business pays its taxes. Why do we want to let big corporations that don’t pay their taxes off the hook? Small businesses should not be subsidizing government services (ex. courts, infrastructure, defense, education) that multinational corporations use but don’t want to pay for. But that is exactly the impact of
Oppose amnesty for tax-avoiding and tax evading corporations Read More »
The split in business opinion (see story below) on whether the economic world powers represented at the G8 summit should crack down on offshore tax havens that deprive nations of corporate tax revenue is easily understood. Organizations like the U.S. Chamber of Commerce, which represents multinational corporations, want to protect their big dues paying members
The G8 nations and small businesses have something in common Read More »
American Sustainable Business Council1401 New York Ave., N.W. Suite 1225, Washington, DCÂ 20005 June 7, 2013 President Barack Obama The White House 1600 Pennsylvania Ave. NW Washington, DC 20005 Dear Mr. President: As business leaders, we are writing to urge you to support the efforts of Prime Minister David Cameron and other world leaders to
President Obama–Close down tax havens Read More »
When it was reported recently that Apple has avoided paying U.S. corporate income taxes on tens of billions of dollars by claiming the money really belonged to its Irish subsidiary, the hope was that Congress would use the revelation to seriously look at closing these tax loopholes used by multinational corporations. But, of course, our
Irish seeing red from missed green Read More »
The recent news that Apple has played the tax laws of Ireland versus the U.S. to effectively avoid paying any corporate tax on tens of billions of income might be the proverbial straw that breaks the camel’s back regarding finding a solution to offshore tax haven abuse. All the rest of us are essentially subsidizing
Bloomberg By Jesse Drucker – May 22, 2013 U.S. Senate scrutiny of Apple Inc. (AAPL)’s tax strategies turned the spotlight on a unit with $30 billion in profit since 2009 that’s incorporated in Ireland, controlled by a board in California, and doesn’t pay taxes in either place. Apple officials acknowledged yesterday at a congressional hearing
Google Joins Apple Avoiding Taxes With Stateless Income Read More »
