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To: Raycpa
A tax against a corporation is not payable by shareholders.
Shareholders share profits and losses. Who pays?

The corporation didn't pay the tax on their profits. The unpaid taxes became profits. The shareholders benefitted from the profits.

They can't raise the prices to cover the tax owed (not that that ever works) the corporation doesn't exist.

28 posted on 07/06/2022 6:21:48 PM PDT by lewislynn (The Murdochs might be citizens but they aren't true blue Americans.)
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To: lewislynn; Raycpa

It’s unbelievable that I’d be defending AOC on this, but from what I understand this particular state corporate tax in NY has nothing to do with corporate income. It’s more like a fee than a tax, and it’s imposed on NY corporations regardless of how much revenue they have. AOC never paid the tax because her publishing company was a failure from the start and never generated much (if any) revenue.


49 posted on 07/07/2022 3:42:07 AM PDT by Alberta's Child ("It's midnight in Manhattan. This is no time to get cute; it's a mad dog's promenade.")
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