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Which, to be clear, is about studios making it appear that they never make a profit so that they can minimize their payout in bonuses, royalties, and taxes.
by cookiecaper 11y ago
Which, to be clear, is about studios making it appear that they never make a profit so that they can minimize their payout in bonuses, royalties, and taxes.
- jonnathanson 11y agoOne particularly famous example: "Harry Potter and the Order of the Phoenix" earned $940M at the worldwide box office, yet Warner Brothers reported the film at a $167M loss on paper. Link with an itemized, Hollywood Accounting-style breakdown: https://www.techdirt.com/articles/20100708/02510310122.shtml https://www.techdirt.com/articles/20100708/02510310122.shtml
- joering2 11y agoSerious question: how this can be legal? If I have to explain myself to IRS why I bought 1TB drive instead of 500GB because in their opinion I did not have enough to backup, hence supposedly I attempted to defraud IRS on extra $6.00 of tax, why can they get away with hundreds of millions or even few billions?
- dceddia 11y agoSerious question: did that thing with the hard drive actually happen to you?
- dboreham 11y agoI call BS.
- MichaelBurge 11y agoYou must've run over the taxman's dog or something. Hollywood executives swerved away from the dog, having watched enough movies to know that's how villains get made.
- refurb 11y agoThe reason the IRS doesn't care is because they get their tax money regardless. They just get it from the subsidiary instead of the people ot should have gone to.