G.E.’s Strategies Let It Avoid Taxes Altogether

[Donnachaidh]

http://www.nytimes.com/2011/03/25/business/economy/25tax.html?_r=1&hp

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Much more at the link --

[bbinacan]

1. What did you expect?

GE is part of the Obama administration.

[notesdev]

2. Which also seems to be part of the strategy

right Tim?

[bbinacan]

4. Tim? n/t

[Octafish]

3. GE makes big money off war, too.

May their sale of NBC to COMCAST leads to more people becoming aware of that.