Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

In Florida, 99% of companies pay no corporate income tax — with lawmakers’ blessing | Special Report
The Orlando Sentinel ^ | November 13, 2019 | Jason Garcia

Posted on 11/14/2019 6:50:15 PM PST by Tolerance Sucks Rocks

EBay Inc., the online auction company with 180 million buyers around the world, earned $34 million of profit in Florida in 2014, according to state auditors.

At Florida’s official corporate income tax rate of 5.5 percent, eBay should have paid more than $1.8 million in state taxes -- enough money to hire 40 new teachers.

But records show eBay actually paid $18,810 -- not even enough to hire one.

It’s not an isolated example. Auditors say Sanofi Pasteur Inc., one of the world’s largest vaccine manufacturers, earned an estimated $55 million of profits in Florida between 2008 and 2013 -- yet it didn’t pay a dime in state income tax over that same period.

In recent years, Mastercard Inc. saved more than $20 million in Florida income taxes by claiming that none of its sales occur in Florida. Verizon Wireless saved more than $23 million by passing hundreds of millions of dollars of profits out of the state. And HCA Healthcare Inc. saved more than $28 million in large part by moving money through a maze of subsidiaries.

All of these moves are made possible by two things: Aggressive tax-avoidance tactics by big businesses -- and elected leaders who choose not to stop them.

The combination has left Florida with what national experts say is one of the easiest-to-avoid corporate income taxes in the nation. An estimated 99 percent of all businesses in Florida no longer pay any corporate income tax at all.

“The Florida corporate income tax leaks like a sieve,” said Richard Pomp, a law professor at the University of Connecticut and a leading authority on state taxes. “Business has it pretty much the way they want it.”

Companies that benefit under the tax structure say it is good for Florida.

(Excerpt) Read more at orlandosentinel.com ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events; Politics/Elections; US: Florida
KEYWORDS: businesses; companies; corporatetax; corporations; florida; funding; legislature; localnews; loopholes; revenue; salestax; tallahassee; taxavoidance; taxes; whinging
Navigation: use the links below to view more comments.
first 1-2021-37 next last

1 posted on 11/14/2019 6:50:15 PM PST by Tolerance Sucks Rocks
[ Post Reply | Private Reply | View Replies]

To: Tolerance Sucks Rocks

What’s wrong with that ? All corporate taxes are passed on to the consumer.


2 posted on 11/14/2019 6:52:24 PM PST by huckfillary
[ Post Reply | Private Reply | To 1 | View Replies]

To: 100American; 3D-JOY; abner; Abundy; AGreatPer; Albion Wilde; AliVeritas; alisasny; ...

My solution to this whole mess would be to get rid of the corporate tax altogether. 0%, baby!

But the paper seems more worried about how many teachers don’t get hired, how many Medicaid applicants have to wait longer, etc. Just more whinging.


3 posted on 11/14/2019 6:53:16 PM PST by Tolerance Sucks Rocks (Show me the people who own the land, the guns and the money, and I'll show you the people in charge.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

Good.

BTW, there’s no such thing REALLY as “Corporate Tax”. It’s just a hidden individual income tax. All corporate tax doe is raise the COGS for a business so it must charge higher prices and the consumer pays the price.

Cool huh?

Only if you’r a lover of government tyranny and socialism.


4 posted on 11/14/2019 6:55:56 PM PST by Jim W N (MAGA by restoring the Gospel of the Grace of Christ and our Free Constitutional Republic!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

Fails to mention how many are employed in FL and pay taxes due to those corporations


5 posted on 11/14/2019 6:56:49 PM PST by llevrok (Vote while it is still legal)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks
$1.8 million in state taxes -- enough money to hire 40 new teachers.

Or 10 new Directors of Paperwork For Toilet Paper Distribution in Palm Beach County

6 posted on 11/14/2019 7:02:31 PM PST by MuttTheHoople
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

Yet they still don’t have a state income tax either.


7 posted on 11/14/2019 7:04:11 PM PST by o-n-money (https://www.youtube.com/llwatch?v=4HLGEARa8xk)
[ Post Reply | Private Reply | To 1 | View Replies]

To: huckfillary

Anyone know how much tax will be lost from the jobs that will be lost by trickle down taxation?


8 posted on 11/14/2019 7:07:02 PM PST by fproy2222
[ Post Reply | Private Reply | To 2 | View Replies]

To: fproy2222

The ignorance . corporate taxes are passed to the price of goods and services morons.


9 posted on 11/14/2019 7:09:48 PM PST by gibsonguy
[ Post Reply | Private Reply | To 8 | View Replies]

To: Tolerance Sucks Rocks

How many teachers could be hired with the money zerobama sent to Iran?


10 posted on 11/14/2019 7:10:22 PM PST by Two Kids' Dad (((( Wake me when a prominent democrat actually gets prosecuted. ))))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

Good. We don’t need more un-american socialist indoctrinators for big brother centers.


11 posted on 11/14/2019 7:13:37 PM PST by Secret Agent Man (Gone Galt; Not Averse to Going Bronson.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: llevrok
Fails to mention how many are employed in FL and pay taxes due to those corporations

BINGO! How much in Social Security taxes, payroll taxes, family medical leave, etc... taxes are paid by these evil corporations. How many people are employed that earn salaries that support their families and such? Typical Communist coveting propaganda being spread.

12 posted on 11/14/2019 7:21:49 PM PST by frogjerk (We are conservatives. Not libertarians, not "fiscal conservatives", not moderates)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Tolerance Sucks Rocks

I’ve lived in Florida since the 50s. I’ve paid a lot of taxes here. This doesn’t bother me at all. The Communist Orlando Sentinel can’t stand that the state, under decades of Republican governance, is in great financial condition even though there is no state personal income tax and low corporate income tax. Yet, the Sentinel is cheetleading for higher taxes.

And the media wonder why they are so hated.....


13 posted on 11/14/2019 7:22:22 PM PST by clintonh8r (Truth is hate speech to those who hate the truth.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

$1.8 million in state taxes — enough money to hire 40 new teachers.

That could have helped Hunter Biden for a week maybe????


14 posted on 11/14/2019 7:23:42 PM PST by taterjay
[ Post Reply | Private Reply | To 3 | View Replies]

To: Tolerance Sucks Rocks

Well aggressive levying and collecting of corporate income taxes would not change that at all.


15 posted on 11/14/2019 7:26:27 PM PST by lastchance (Credo.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Tolerance Sucks Rocks

Hellooooooo......100% of corporations around the whole world never pay a penny in taxes....they pass it on to the customers.


16 posted on 11/14/2019 7:37:18 PM PST by entropy12 (You are either for free enterprise or for government price fixing. Can't be for both as convenient.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

Most of the corporations named aren’t even headquartered in FL. eBay doesn’t even have a physical presence there, they’re incorporated in California.


17 posted on 11/14/2019 7:46:22 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
[ Post Reply | Private Reply | To 1 | View Replies]

Good. And better than in the pockets of filthy bureaucrats


18 posted on 11/14/2019 7:55:53 PM PST by Gene Eric (Don't be a statist!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tolerance Sucks Rocks

How much taxes has ebay, for instance, paid in total to all jurisdictions?

How many jobs created and supported?

Enough said.


19 posted on 11/14/2019 8:24:00 PM PST by Kenny500c
[ Post Reply | Private Reply | To 1 | View Replies]

To: o-n-money

“Yet they still don’t have a state income tax either.”

True, but this does not apply to corporations.


20 posted on 11/14/2019 8:26:37 PM PST by Kenny500c
[ Post Reply | Private Reply | To 7 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-37 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson