http://www.verizon.com/about/news/senator-sanders-needs-get-his-facts-straight
hah! what a joke
>>38651
USA Today
"A big reason that Verizon's effective tax rate is so low, coming in at a negative 4.8%, is largely due to accounting. The company's sped-up depreciation, severance and pension costs are large credits that contribute to pushing the company's taxes down, says Jonathan Schildkraut of Evercore. But there's also a distortion caused by the company's 55% interest in Verizon Wireless. Vodafone, which owns 45% of Verizon Wireless, pays taxes on its share, but the entire profit is reported on income. Adjusting for this, Verizon's effective tax rate is closer to 30%, the company says. Verizon is buying Vodafone's stake, which will eliminate the issue in the future. Similarly, real estate investment trusts have low effective tax rates because they pass profit to shareholders, who then pay the taxes."
http://www.usatoday.com/story/money/business/2013/10/23/big-companies-pay-no-taxes/2480281/
Reuters
Verizon paid no federal income tax in the five-year period
http://www.reuters.com/article/us-usa-tax-corporate-idUSBREA1P04Q20140226
Bloomberg
Verizon had $32.5 billion in pretax profits between 2008 and 2010 and had a negative tax liability of $951 million that resulted in a tax rate of negative 2.9 percent in those years.
http://www.bloomberg.com/news/articles/2011-11-03/thirty-top-companies-profited-without-paying-tax-study-finds
Forbes
1.2 Billion in Taxes (2010)
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corporate-taxes_slide_13.html
>>38667
Now, this is a story all about how
My tax rate got flipped-turned upside down
And I'd like to take a minute
Just sit right there
I'll tell you how my tax rate was -4.8 and 30% at the same time
In west New York born and raised
On the phone was where I spent most of my days
Chillin' out maxin' relaxin' all cool
And asking "Can you hear me now?" outside of the school
When a couple of guys who were up to no good
Started making trouble with my tax returns
I got mentioned by one little politician and my CEO got scared
He said 'You're putting out a press release that saying that you paid taxes"
>>38678
10/10
>negative tax rate
wha~?
>>38706
depends on where one decides to stop counting
>>38707
So, if they decided to stop below zero, does the gov pays them now, or what?
>>38714
Yes, it means the taxes you paid in are paid back in full to you and then some.
>Verizon din't du nuffin
>>38714
tax credits, deductions, tax holidays, etc. certainly help paying as little as possible or getting money back.
>implying they don't get subsidies for wiring up rural communities with decade old 3g internet service
This reminds me when Verizon got so salty about the FCC bill and did a protest note in Morse code.
Do adolescents run their PR? Because simple research would have told them that a Google search would give more than enough ammo against their flimsy denial. I mean shit >>38667
>>38834
But they (nor any wireless company) fail at doing even that in pretty much any huge rural pocket of the USA.
>>38854
I wonder what their end goal was. Maybe just to create some sort of doubt.
But yea, when google news exist and we can look up articles on verizon's taxes it is pretty weak. But then again, who really has the time to look shit up. And the media is great at parroting press releases instead of actually doing real work.
>bernie sanders is retarded
not news OP
This is a well known fact
>>38855
Our verizon branch was going to give my moms rural area internet but then they got bought out by Frontier and they just pocketed the gov money and said fuck it and never did it.
>>38667
Except the USA Today article which is interesting an insightful (for once), all of those sources are citing the same study (by the same labor-union funded leftist group), so what was the point of posting multiple articles? In fact, why not just post the Citizens for Tax Justice report itself instead of 3 sources that just talk about it?
>>38667
>USA Today
0/10
>>38667
>negative 4.8%
This is why america should just be destroyed right now.
>>38941
you're kidding yourself
I would rather see verizon pay no taxes for the next hundred years than watch one more fake dyke squirt out a well fare check while doing everything possible to ensure her only employment option ever will be cashier.
CPA here.
Verizon and other big corporations can get away with shit like negative tax rates because of our accounting rules that let them book deferred tax assets and deferred tax liabilities and effectively hold two books at the same time (one for financial reporting to the SEC, another for tax reporting to the IRS in which they under-report yearly revenue and perpetually defer taxes).
Bernie is right on this.
IMO we need a massive overhaul of our accounting regulations and a restructure of the PCAOB and the FASB itself.
