The Lesson For You : Will You Complain or Profit ?
A new report from Citizens for Tax Justice :
CTJ looked at 280 companies, all of them members of the Fortune 500, and found that “while the federal corporate tax code ostensibly requires big corporations to pay a 35 percent corporate income tax rate, on average, the 280 corporations in our study paid only about half that amount.” And those who paid even half the statutory corporate tax rate paid far more than many of their competitors.
In fact, in the last three years, 78 corporations had at least one year where they paid no federal income tax at all, while 30 corporations paid not a dime over the entire three years. Those 30 corporations paid nothing, even though they made $160 billion in profits over that period:
– Seventy-eight of the 280 companies paid zero or less in federal income taxes in at least one year from 2008 to 2010…In the years they paid no income tax, these companies earned $156 billion in pretax U.S. profits. But instead of paying $55 billion in income taxes as the 35 percent corporate tax rate seems to require, these companies generated so many excess tax breaks that they reported negative taxes (often receiving outright tax rebate checks from the U.S. Treasury), totaling $21.8 billion. These companies’ “negative tax rates” mean that they made more after taxes than before taxes in those no-tax years.
– Thirty corporations paid less than nothing in aggregate federal income taxes over the entire 2008-10 period. These companies, whose pretax U.S. profits totaled $160 billion over the three years, included: Pepco Holdings (–57.6% tax rate), General Electric (–45.3%), DuPont (–3.4%), Verizon (–2.9%), Boeing (–1.8%), Wells Fargo (–1.4%) and Honeywell (–0.7%).
As CTJ’s report put it,
Today most Americans can complain, ‘I pay more federal income taxes than General Electric, Boeing, DuPont, Wells Fargo, Verizon, etc., etc., all put together.’
Don’t Complain : Cut your Taxes
Reading – but not taking action ? Don’t fool yourself.
We’ve Done All the Research
We’ve done all the research and conveniently gathered all U.S. and International regulations pertaining to Tax Havens, Tax Planning,Offhore Banking , Information Technology, Physical Security, Records Management, Privacy, and Third Party Invoicing into one place
An overview of our assistance with your goals:
There are dozens of jurisdictions, such as Hong Kong, Singapore and the British Virgin Islands that offer a great business environment with fully legal tax benefits.We have to match your goals to the right jurisdictions.
The Magic Bullet Step Number 1
The most important thing that you MUST do is seek advice from a qualified advisor – Jack A. Bass, B.A. LL.B. (someone who understands international tax jurisdictions and tax law) . Your advisor must understand the benefits of particular offshore jurisdictions. It is your responsibility to take action.
In most jurisdictions you can set up your offshore company in as little as a few weeks. We most often start the process with registering a company name and sending in the right documentation and supporting documents for the incorporation and a bank account(s) or merchant account for you and your business.All of this can be conducted by internet on in rare cases we will attend in person – for you.
To learn more about offshore company formation and structure your business interests overseas (at no cost or obligation)
Email email@example.com or
call Jack direct at 604-858-3202
10:00 – 5:00 Monday to Friday ( same time zone as Los Angeles).
A business based overseas, coupled with an offshore bank account, is the perfect medium to build your wealth in a low tax jurisdiction.
YOU CAN DO THIS and Jack A. Bass can help !
However, the truth is developing a tax strategy is not the same as walking into the mall and opening a checking account in fifteen minutes.
Tax Haven Savings – Contact Information
Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ?
Information must proceed action and that is why we offer a no cost / no obligation enquiry service.
Do something to help yourself – contact Jack A. Bass now !
We will discuss your goals and tailor the solution to meet your requirements.