DougH

Yes they are, all of the taxpayers who don't have their own golden parachute will pay for it. "The restraining order says you're only allowed to touch me in freefall" =P

Who ever said that a corporation wasn't a seperate legal entity? It really isn't relevant either way. The only thing that maters is the tax structure and the way the flow of funds works and is reported. An LLC is a seperate legal entity. It can elect to be treated as a partnership or a sole proprietorship. In that sense it becomes a flow through entity and is not taxed at the entity level. S corps are seperate legal entities too. The entity files a tax return, it is taxed based on its net taxable income, its EARNINGS. It is the earnings that give rise to tax. If the entity didn't earn anything, it wouldn't have anything to tax for that given year, and it wouldn't have anything to distribute unless it decided to make a distribution from previous years retained earnings, or made a return of capital. Where did the corporation get the money to distribute in the form of dividends? Mana from the sky? "The restraining order says you're only allowed to touch me in freefall" =P

No kidding, it rode up a specially designed surface! Not nearly as cool as I was hoping for. "The restraining order says you're only allowed to touch me in freefall" =P

That is funny, we are discussing income tax. If you think payroll and sales tax are corporate and individual income tax I won't even bother wasting my time. So sales tax = income tax? Nice attempt at muddying the water. "The restraining order says you're only allowed to touch me in freefall" =P

It is very very different and very very simple. Corporations claim their payroll as a deduction. Payroll is a cost that reduces taxable income. The dollars being paid to an employee are not taxed twice, they are taxed only at the employee level. Corporation don't get taxed on gross receipts, they get taxed on net income. It is basic GAAP. A dividend is a equity related transaction, it does not involve a companies P&L. A dividends is a distribution of retained earnings. Earnings which are already subject to tax at the corporate level when the company has a taxable profit and they file their annual 1120. Tell you what, go to your local accountant and lawyer and tell them you want to start a business but you want to structure it as a C-corporation instead of a sole proprietor type business, or a LLC, or even a partnership. One of the things they should explain to you is that you are going to expose your earnings to two levels of taxation. "The restraining order says you're only allowed to touch me in freefall" =P

The earnings are taxed twice, your wrong. Thanks for playing. I'll make it simple since you want to make a simple accounting concept into a bs political one, and into a rich versus poor one at that. Are corporations taxed? Are dividends received by sharehiolders taxed? Can corporations claim dividends as a deduction to reduce their taxable income? "The restraining order says you're only allowed to touch me in freefall" =P

Pretty cool looking! "The restraining order says you're only allowed to touch me in freefall" =P

It is not a ploy it is a mathematical certainty. What is so hard about following the earnings. The money passed on to shareholders is the money original earned by the corporation, it is the same money. The fact that they are legal distinct entities doesn't mean anything. They are distributing earning previously subject to income tax. Every CPA and lawyer in this country that is worth half a damn will agree. This isn't academia it is simple fucking math! You are wrong. What is so hard to understand that a corporation can only distribute previously contributed capital, or earnings. "The restraining order says you're only allowed to touch me in freefall" =P

Yup, after the strike I was hoping it would go away and never come back. Then the greedy fucks could deal with making a living some other way than their athletic abilities. This is coming from some one who ate drank and breathed football, and played since I was like 5 years old. Fuck all of them. "The restraining order says you're only allowed to touch me in freefall" =P

I thought there was a male version of the shot. Besides even if you had a pill you would still have to wrap it, unless you like the idea of waking up to suprise crusty stuff. "The restraining order says you're only allowed to touch me in freefall" =P

It has received government loans, which obviously won't be repaying. I wouldn't want to be at the helm. Hamstrung by their labor agreement, hamstrung by congress. "The restraining order says you're only allowed to touch me in freefall" =P

They went away in CT. That is a pretty simple concept. If the job is in GA it couldn't possibly be in CT where it previously existed. "The restraining order says you're only allowed to touch me in freefall" =P

You can disagree all that you want, the math is simple. Joe Blow's pizza shack is a sole proprietor run business. Joe reports the earnings from his pizza shop on Schedule C of his 1040. Joe's pizza sucks and he only manages to sell one pizza all year for 20 bucks, that would be revenue. The dough, utilities, toppings and cheese cost Joe 10 bucks, that would be expense. That gives Joe earnings of 10 dollars, which he has one level of income tax applied to. Pizza Smut, a has an equally shitty year, their sauce sucks, and they also sell one 20 dollar pizza, and have expenses of 10 dollars. Pizza Smut has taxable income of 10 dollars. It pays corporate income tax on this earnings. Pizza Smut later issues a cash dividend to Warren Buffet and a few other shareholders. Those shareholders have the dividend taxed as part of their personal earnings. 1 level of tax for the earnings from Joe's pizza shop, 2 levels of tax for the earnings from pizza Smut. You can try to twist it all you want, but you would be wrong. It is one of the disadvantages of using a corporation as your business structure. "The restraining order says you're only allowed to touch me in freefall" =P

Fallacious argument. Wages paid to corporate emplyees are also taxed twice by that reasoning, and again when those workers buy anything. It isn't fallacious Prefesser. Tax code results in corporate earnings being subject to income tax twice. A sole proprietor's earnings from his business are subject to how many income taxes? One, his or her own. Wages to corporate employees are not subject to two levels of income taxes. That is absolute horse shit! Wages paid to a corporate employee are deductions to the corporation, within reason (ie 162M), and are income to the employees. Employees buying things with those earnings brings indirect taxes into play, sales tax, which has nothing to do with income tax. "The restraining order says you're only allowed to touch me in freefall" =P

All of my clients that are HQ'd out of Ireland have all of their management function right there in Ireland. Lawyers, managers, treasury, sales people, it is all in Ireland. I am sure there are plenty of exceptions. The main point is that if you structure the tax code in a manner that encourages companies to relocate overseas they are going to move skilled jobs overseas. "The restraining order says you're only allowed to touch me in freefall" =P

Individuals and small business that fail to report income do so because they are cheats and liars. It has nothing to do with a lack of tax deductions. They have the same basic deductions that most corporations are entitled to. Business expenses, cost of sales. That makes up the lions share of corporate tax deductions. Sure the local pizza guy down the street doesn't get into the realm of being able to claim an R&D credit, is that why he skims cash under the table? These are global companies with global investors. We are talking about profits that are earned over seas. They aren't hiding profits that are made here in the US. Would you rather we structure things in a way that encourages them to relocate to a low tax jurisdiction like Ireland? They would then continue to not pay US tax on foreign earnings. And they would only pay US tax on business that is deemend effectively connected to a US trade or business. Win or lose for us? And further lets consider that corporations are taxed twice. Once at the corporate level, and then again when they distribute earnings to their shareholders. "The restraining order says you're only allowed to touch me in freefall" =P

Tax trap = job killer. CT just institued a "amazon tax" similar to the NY and CA versions. There was a local internet company that had to inform their affiliates that they would now need to collect sales tax. They lost 75% of their affiliate business overnight. Poof gone. So they moved to GA which has more business friendly state taxes. Yay for GA... boo for CT. No new tax revenue, and less middleclass high skill jobs. http://www.yourpublicmedia.org/content/wnpr/revisiting-amazon-tax "The restraining order says you're only allowed to touch me in freefall" =P

Dave, First you need to remove the judgement from your claim. The companies are legally reinvesting profits from CFC's over seas. They are paying foreign taxes overseas. This is all legal in the tax code, so to say they aren't paying their "fair share" is bullshit. They are paying exactly what congress has legislated. Corporations don't cheat at taxes, normally. The biggest tax cheats are small business owners and people in cash businesses. There is a difference between using the full extent of the law to your advantage, and being a liar that under reports income! Don't like it, write your senators! Back to the holiday, it brings the cash back, plain and simple. Otherwise the companies will just continue to reinvest it over seas. No tax revenue for us, and no cash coming back. I won't make the claim that it is going to spur massive job growth, it hasn't in the past. But it would allow the funds to return here, and there will be some tax on it. The cash is more to likely get passed on to shareholders in the form of dividends than it is going to end up paying the salary of newly created jobs. But even divedends to shareholders isn't a bad thing. Some of that will get pushed back into the economy through consumer spending. It helps 401k's, pensions, and retirement plans. Back to the whole jobs claim...Why would they create jobs any way? The economy sucks and no one is buying their products. All the cash in the world won't spur job creating with weak demand. "The restraining order says you're only allowed to touch me in freefall" =P

I was pissed when I saw the beard. "That girl I was talking to on dropzone seriously needs to get those hormone issues under control" "The restraining order says you're only allowed to touch me in freefall" =P

Can't touch this! "The restraining order says you're only allowed to touch me in freefall" =P

that the thread starter is obsessed with his own navel... Don't you have some evil vampire bankers to hunt down? "The restraining order says you're only allowed to touch me in freefall" =P

You had that bookmark ready for personal use? Not suprised! So how do you like it? "The restraining order says you're only allowed to touch me in freefall" =P

Those fucking bankers, using MI6 to extradite terrorists with past due credit card balances. The great banker rendition. "The restraining order says you're only allowed to touch me in freefall" =P

surely not sky(shoot them youngsters)rad? No evil bankers here... carry on. "The restraining order says you're only allowed to touch me in freefall" =P

Pretty trashy comments, glad to see partisanship and pettyness come before humility and compassion on here. KOOOOOOOOOOOOOOOOOCHKKKKK BROOOOOTHERS.... TRICKKKKKKKKKKKKKLE..... rePUBICclowns.... :::Twitch::: :::twitch:::: TRICCKLLLLEEEEEE :::twitch:::: Pretty sad! "The restraining order says you're only allowed to touch me in freefall" =P