Discover a new way to find and share stories you'll loveā€¦ Learn about Reading Desk

Post Profile



Report: Legal loophole allows GM to avoid paying federal taxes... still

The United States tax code will never be accused of being simple or easy to comprehend. With a tangle of exceptions and loopholes, individuals and corporations can work their way around paying their full income tax rate with ease. According to The Detroit News, General Motors continues to avoid paying its federal income taxes since the company exited bankruptcy. In 2008, the Treasury Department ruled that the automaker could use $18 billion in losses from "old" GM to offset any profits.
read more

share

Copyright © 2011 Regator, LLC