New York Times Hypocrisy On Corporate Taxes Reaches Record High
As Forbes noted at the time:
… for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.Editor's note: I maintain that no corporation pays more taxes than is necessary. In other words, all corporation take as many deductions as are possible. On a personal level, Hillary does the same. Warren Buffet does the same. Gates . . . . ditto. Get the drift? We ALL do it.
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