Social Security

[pam]

All arguments about oil companies aside..... I watched a report on the CBS news last night about 65% of foreign companies not paying taxes,I get that because giving them tax breaks is how we get them to do business here, most countries do that. But they also said about 62% of american companies don't pay taxes. Does anybody know anything about this?

Corporations don't pay taxes.

Sorry, but corporations do pay taxes.  We pay corporate income taxes, state income taxes, and matching Federal and State withholding taxes.  At least my corporation does.

That's what I thought! Was just wondering where the info on the report came from, they didn't go into any great detail. It was one of those if you blinked you missed it reports, it just caught my attention because I knew why foreign companies get tax breaks

[srkruzich]

All arguments about oil companies aside..... I watched a report on the CBS news last night about 65% of foreign companies not paying taxes,I get that because giving them tax breaks is how we get them to do business here, most countries do that. But they also said about 62% of american companies don't pay taxes. Does anybody know anything about this?

Corporations don't pay taxes.

Sorry, but corporations do pay taxes.  We pay corporate income taxes, state income taxes, and matching Federal and State withholding taxes.  At least my corporation does.

Well if you have taxable income yea, but most corps don't.  They invest back into their business or take whatever profit there might be and that goes to salary which is taxed as income tax. 
Usually  a corp can come up with enough deductions to eliminate taxes.  I know 2/3'd of this countrys corps don't pay taxes at all. 
NYT did a big article on it recently.

[Catwoman]

Hmmmmmmmm...sounds like those corporations meet with their Farm Management personnel.  I guess it's hard to hide a good thing like not paying taxes.  Now...did that get everyone going again?  It's been WAY too quiet on here.