Amazon, BofA Could Owe More Under a New Corporate-Minimum Tax

Bloomberg2021-11-18

More than 70 companies could pay new 15% corporate minimum tax House to vote as soon as Thursday on Biden economic bill Amazon.com Inc.,Bank of America Corp. and DISH Network Corp. are among the ...

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GrowGrowGrow
2021-11-20
GrowGrowGrow
Grow Grow Grow
- JLSE:
  👍
CL777
2021-11-19
CL777
Amzn will be impacted
- CL777:
  Yea
- Sheryl85:
  ok
andrewshum
2021-11-19
andrewshum
Like
- Kanyon:
  O
littlekitten
2021-11-19
littlekitten
Cool
- GrowGrowGrow:
  liked
Fei2
2021-11-19
Fei2
Like pl
- NewPower:
  Okay.
HoSeyLiao48
2021-11-19
HoSeyLiao48
[强] [看涨]
- andrewshum:
  [微笑]

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The proposal is meant to target profitable companies that are able to slash their tax bills because they qualify for tax deductions and credits to whittle down their Internal Revenue Service liabilities.\nAmazon would have had to pay an additional $836 million, based on its reported profits and tax payments, while Bank of America would have paid $1.1 billion more, had the corporate minimum tax been in effect in 2020, the analysis concluded. DISH, which received a $223 million tax refund last year, would have ended up owing $386 million to U.S. and foreign governments on its $2.6 billion in global profits, according to the report.\n“Billionaire corporations have gotten a free ride in America for too long. 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The measure has been criticized by some economists, companies, and even House Ways and Means Chairman Richard Neal for adding complexity to the already dense tax code.\nFinancial companies, banks, telecommunications companies and utilities are likely to bear the brunt of the corporate minimum tax, according to Morgan Stanley Research led by Todd Castagno. 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