Moving to Canada I won't be there anymore.
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Do you have an iphone? a GE product?
Burger King is moving their global HQ to escape the US tax on their global operations. They will still pay US corporate tax rates on sales in the US. The US is the only nation that taxes income on overseas operations. That income will now be reported thru Canada, BK is not even a US corporation any more. 3G Capital holds 71 percent of their stock.
3G Capital is a Brazilian multi-billion dollar,[1][2]global investment firm focused on long-term value creation, with a particular emphasis on maximizing the potential of brands and businesses. 3G has HQs in NYC and Brazil.
3G Capital is, for its shareholders, doing the responsible thing. BKs sales are plateauing in the US, but growing outside the US It would be irresponsible to pay the much higher US corporate tax rates. #G is but one of many moving the corporate HQs out of the nation.
So, eat or don't at BK. If you do, they will still pay taxes on your purchase.
The US has one of the highest corporate tax rates and is the only nation to tax oversea corporate profits.
http://www.iiea.com/blogospher...-corporate-tax-rates
Why are people shocked when businesses move to other countries when we have a tax code that incentives them to do just that?
I'm sure QD is equally outraged by the Clintons use of tax avoidance strategies as well and will boycott Hillary in2016.
And, the acquisition of Tom Horton's is financed, in the main, by Democrat Warren Buffet.
A number of corporations have moved outside the nation.
tom horton's makes more than burger king with a third the locations.. it's a model of efficiency. seems more like they're absorbing burger king. all the recent reports say the 'fast food burger' is about to go through a major slump/change... one business is about to start a downward trend.. one is looking to expand. 80% of tom horton locations are still in canada. we'll see how it works out, in the long run, i guess.
Burger King is another example of someone or something wanting the advantages of being in the US and not paying for the privilege of being here. I'm not getting anymore whoppers.
They're following the law:
In 2004, Congress tried to curb inversions by saying U.S. companies couldn’t escape U.S. taxes by simply reincorporating abroad, with the same shareholders and executives running the new company. Instead, Congress passed a law saying that in order to become a foreign-owned corporation, U.S. companies must merge with a foreign partner, even if the foreign partner is much smaller.
No Inversion Is Not Unpatriotic. Yes We Need Corporate Tax Reform
http://www.forbes.com/sites/th...orporate-tax-reform/
Inversion Critics and Investors May Be Misjudging Burger King Deal
No Inversion Is Not Unpatriotic. Yes We Need Corporate Tax Reform
http://www.forbes.com/sites/th...orporate-tax-reform/
Inversion Critics and Investors May Be Misjudging Burger King Deal
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The second article ignores that BK will not be taxed on income earned outside Canada. Nor, will Ontario tax income earned outside that province.
Burger King is another example of someone or something wanting the advantages of being in the US and not paying for the privilege of being here. I'm not getting anymore whoppers.
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So, you will not be purchasing from any of the other companies in the article I linked.
What percent of US companies pay 35% tax, what percent pay close to 12.6% tax?
What percent of US companies pay 35% tax, what percent pay close to 12.6% tax?
JT, our corporate tax code is littered with loopholes that allow companies to pay less than 35%.
However, navigating our tax code to find these loopholes and implement them is not cheap. Big companies spend millions on accountants and lawyers to complete their tax returns. I read somewhere that GE's tax return was 58,000 pages.
With a simpler tax code that is money that could be used instead to expand operation or to return to shareholders.
If a congressman tried to introduce legislation to eliminate those loopholes, his reelection money would dry up in a heart beat. Both sides are bought by big donors.
If a congressman tried to introduce legislation to eliminate those loopholes, his reelection money would dry up in a heart beat. Both sides are bought by big donors.
That's why the rate has to be lowered when you close the loopholes.
The loopholes are what keeps us competitive with the rest of the world.
If we closed the loopholes and left the rate at 35% then businesses would leave the country in droves.
What we need is a simpler tax code that is revenue neutral. Medium sized companies with no overseas operations wind up paying near the top rate. If, GE could pay the same taxes with much less paperwork it would not mind the changes. GE could dismiss many of he 1,000 plus personnel that work on its taxes.
I have a question, are corporate income taxes paid on the balance before or after dividends are paid?
It truly is a messed up system.
Dividends are paid on after tax profits.
So why all the whining and b it chi ng from the left about corporate taxes? Why does a lefty think it is ok to tax profits twice?
So why all the whining and b it chi ng from the left about corporate taxes? Why does a lefty think it is ok to tax profits twice?
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More free money for smokes, alkyhaul, weed, and other goodies for them.
So why all the whining and b it chi ng from the left about corporate taxes? Why does a lefty think it is ok to tax profits twice?
I'm not sure profits are taxed twice
That is twice ain't it jt?
So why all the whining and b it chi ng from the left about corporate taxes? Why does a lefty think it is ok to tax profits twice?
I'm not sure profits are taxed twice
profits are taxed at corporate level. then taxed on individual income taxes as dividends.!!
Dire, I'll take your word for it. I had always thought dividends were tax deductable for a business. I missed on that one.
But I still aint going back to Burger King
Haven't found much at BK that interests me since they got rid of the fired cheese sticks with marinara. For fast food I usually go to Five Guys or Hardees for burgers And for breakfast either McDos (cafe mocha and sausage burrito) or Hardees (ham biscuit).
Why does the left want to tax profits twice?
Why does the left want to tax profits twice?
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If, it exists, the lefties want to tax it.
"Let me tell you how it will be
There's one for you, nineteen for me
Cos I'm the taxman, yeah, I'm the taxman
Should five per cent appear too small
Be thankful I don't take it all
Cos I'm the taxman, yeah I'm the taxman
If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold I'll tax the heat
If you take a walk, I'll tax your feet
Taxman!
Cos I'm the taxman, yeah I'm the taxman
Don't ask me what I want it for (Aahh Mr. Wilson)
If you don't want to pay some more (Aahh Mr. Heath)
Cos I'm the taxman, yeah, I'm the taxman
Now my advice for those who die
Declare the pennies on your eyes
Cos I'm the taxman, yeah, I'm the taxman
And you're working for no one but me
Taxman!"