Tag

Corporate Taxes

All articles tagged with #corporate taxes

politics1 month ago•7 min saved

Ex-energy secretary’s oil-services firm paid zero federal taxes last year

Liberty Energy, founded by Energy Secretary Chris Wright, paid no federal corporate income taxes last year despite $193 million in pre-tax income and receiving over $10 million in tax benefits; Wright left Liberty in 2025 to join the administration, and the White House says he complied with the law, while critics point to depreciation tax breaks that let profitable firms avoid taxes and note the issue among 88 companies highlighted by ITEP.

via Politico|

#corporate-taxes #energy #oil-and-gas

business2 months ago•23 min saved

Apollo weighs Sun Belt HQ as NYC tax threats swirl

Apollo Global Management is weighing relocating its second US headquarters to the Sun Belt amid New York City's planned corporate and personal tax hikes backed by Mayor Zohran Mamdani; the potential shift signals a growing impatience with NYC's business climate and follows other firms relocating to tax-friendly states like Texas and Florida.

via New York Post|

#apollo-global-management #business #corporate-taxes

business3 months ago•5 min saved

GOP tax cuts shrink Amazon's tax bill even as profits surge

Republicans' tax cuts reduced Amazon's 2025 federal tax bill to about $1.2B from $9B the year before, driven mainly by generous depreciation allowances in the One Big Beautiful Bill and, to a lesser extent, expanded R&D breaks; the company reported a ~45% jump in profits to nearly $90B and paid roughly $2.75B in cash taxes, with no corporate AMT paid.

via Politico|

#amazon #business #corporate-taxes

business1 year ago•5 min saved

Trump's Return: A Mixed Bag for Business and Tech

Donald Trump's potential return to the White House brings mixed reactions from Washington state businesses. While tech companies and Wall Street are optimistic about potential deregulation and corporate tax cuts, concerns loom over proposed tariffs, especially for the agricultural and shipping sectors. Trump's stance on tariffs could harm trade relationships, particularly with China, affecting jobs and consumer costs. Additionally, changes in AI regulation and the National Labor Relations Board could impact tech innovation and labor relations, respectively.

via The Seattle Times|

#ai-regulation #business #corporate-taxes

business-politics2 years ago•2 min saved

"Major U.S. Companies Pay Executives More Than Federal Taxes: Report"

A new analysis by the Institute for Policy Studies and Americans for Tax Fairness reveals that dozens of major U.S. companies paid their top executives more than they paid in federal taxes between 2018 and 2022. This comes as President Biden has proposed raising the corporate tax rate to 28 percent. The report aims to connect lucrative executive compensation packages to the lower tax rate set under the Trump administration. The analysis found that 64 companies paid their top five executives more than their federal taxes during at least two of those five years, with 35 companies, including Ford and Tesla, paying their top executives more than their taxes over all five years. The issue of how to tax wealthy corporations and individuals is expected to be a central theme in the upcoming presidential election.

via The Hill|

#business-politics #corporate-misbehavior #corporate-taxes

business-taxation2 years ago•3 min saved

"Report Reveals US Companies Pay Executives More Than Federal Taxes"

A report by Americans for Tax Fairness and the Institute for Policy Studies reveals that senior executives at 35 major US companies received more in compensation than their companies paid in federal taxes between 2018 and 2022, with a collective net federal income tax bill of negative $1.72bn. Advocacy groups are calling for an increase in the corporate tax rate, citing the need for big businesses to pay their fair share. President Joe Biden has also emphasized the importance of ending tax breaks for big corporations and executives, while the report highlights how aggressive tax avoidance and excessive executive pay negatively impact working families and small businesses.

via The Guardian|

#advocacy-groups #business-taxation #corporate-misbehavior

politics2 years ago•3 min saved

"Biden's 2024 State of the Union: Focus on Tax Policy and Economic Agenda"

President Joe Biden plans to unveil tax proposals targeting wealthy Americans and large companies in his State of the Union address, including hiking corporate minimum taxes, curbing executive pay and corporate jet deductions, and imposing a 25% minimum tax on income for those with wealth over $100 million. These measures are part of a proposed fiscal 2025 budget aiming to decrease the federal deficit by $3 trillion over 10 years while cutting taxes for low-income Americans. The tax plans are expected to be a central theme in Biden's re-election campaign, setting up a contrast with the 2017 tax cuts signed by former President Donald Trump.

via Reuters|

#corporate-taxes #economic-policy #joe-biden

law-and-politics2 years ago•3 min saved

Supreme Court Weighs In on Taxation and Wealth Redistribution

The U.S. Supreme Court heard arguments in a tax case that could have significant implications for congressional tax policy and cost the federal government trillions of dollars in corporate taxes. The case involves the constitutionality of the Mandatory Repatriation Tax (MRT), which imposed a one-time tax on off-shore investment income. The plaintiffs argue that the tax violates the Sixteenth Amendment, while the government defends its broad taxing power. The court's decision could impact the implementation of future tax policies and potentially unravel a third of the tax code.

via NPR|

#corporate-taxes #law-and-politics #off-shore-tax