0.15 of $2.5B is about $375 million. Do they pay cap gains like the rest of us, or do they have ways of avoiding some or all of the tax?
2007-05-16 03:53:08 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
http://www.usatoday.com/money/industries/food/2007-05-15-suntrust-selling-coke_N.htm
2007-05-16 03:53:17 · update #1
None of these responses so far answers the question.
2007-05-18 04:19:43 · update #2
Corporate tax rates are different from individual tax rates. Neverthess, the capital gains are offset by other losses including write-offs the business has incurred for the same tax year. Given that SunTrust is a publicly trading company, you will learn more about the financial data at the end of the fiscal year in their SEC 10-K filing.
This is a monumental event not so much on taxes or profits, but on its holding of the Coca-Cola company which its predecessor company has taken public in 1919 and that a copy of the secret formula has been entrusted in its vault.
This came as a surprise or perhaps a shock to the Coca-Cola investors and fans worldwide. Perhaps Coca-Cola should consider remove the secret formula from SunTrust.
Boycott Suntrust!
2007-05-16 03:58:41 · answer #1 · answered by ? 7 · 0⤊ 0⤋
I am sure they have the best tax accountants money can buy so they will pay only what tax they are legally obligated to pay.
2007-05-16 10:57:03 · answer #2 · answered by acmeraven 7 · 0⤊ 0⤋
as little as they can get by with.
2007-05-16 10:56:22 · answer #3 · answered by ? 7 · 0⤊ 0⤋