How are income taxes passed onto consumers?
Duh — higher prices for the company’s products. Or hadn’t you noticed?
All corporate costs get passed on to the consumer. If they gotta pay a million bucks for something you can bet prices are going up. Unless their market situation dictates they absolutely have to (ie upping their prices even a little kills sales) companies don’t eat costs, whether it’s taxes or wages or utilities they all go into figuring out how much to charge.
It’s double taxation. You pay your income taxes, and then when you buy GE product a component of the price is to cover their corporate income tax. A corporation is a fictitious legal entity. Any tax on an entity has to be paid by someone else.
To say they pass all taxes along to the customer though, is an oversimplification. Sure, if they get an 8% increase in taxes they would love it if they could just charge 8% more and cover it. But that 8% jump changes the supply/demand curves. Some who were willing to pay the freight but were unhappy about it decide that this is too much and eschew the GE products and services. In other words, it forces GE to re-evaluate their cost/price structure and try to reoptimize it.