suthrnlyts™
New member
- Nov 12, 2010
- 13
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When does Fiat... I mean GM start paying taxes on the "profits" they're making?
Anyone know?
Word has it that part of the bailout agreement is that they are tax-free for ten years.
Is there any truth to that?
Oh, is Ford required to pay taxes?
Found it:
Now it turns out, according to documents filed with federal regulators, the revamping left the car maker with another boost as it prepares to return to the stock market. It won't have to pay $45.4 billion in taxes on future profits.
The tax benefit stems from so-called tax-loss carry-forwards and other provisions, which allow companies to use losses in prior years and costs related to pensions and other expenses to shield profits from U.S. taxes for up to 20 years. In GM's case, the losses stem from years prior to when GM entered bankruptcy.
http://online.wsj.com/article/SB10001424052748704462704575590642149103202.html
Satan... You're correct... Chrysler/Fiat... My error
Anyone know?
Word has it that part of the bailout agreement is that they are tax-free for ten years.
Is there any truth to that?
Oh, is Ford required to pay taxes?
Found it:
Now it turns out, according to documents filed with federal regulators, the revamping left the car maker with another boost as it prepares to return to the stock market. It won't have to pay $45.4 billion in taxes on future profits.
The tax benefit stems from so-called tax-loss carry-forwards and other provisions, which allow companies to use losses in prior years and costs related to pensions and other expenses to shield profits from U.S. taxes for up to 20 years. In GM's case, the losses stem from years prior to when GM entered bankruptcy.
http://online.wsj.com/article/SB10001424052748704462704575590642149103202.html
Satan... You're correct... Chrysler/Fiat... My error