7 ms·
Cool, he got paid and all, but keep in mind that's $22M of yours and my tax money. EDIT: Nevermind, I did not read the article before commenting. My mistake.
by atjoslin 10y ago
Cool, he got paid and all, but keep in mind that's $22M of yours and my tax money.
EDIT: Nevermind, I did not read the article before commenting. My mistake.
- yalogin 10y agoIsn't it from the settlement money?
- atjoslin 10y agoYep. I'm already sour against the IRS from just doing some tax calculations, saw the article title, and didn't even read the article before commenting! Edited my comment.
- randyrand 10y agoInterestingly the settlement money still does a bit affect our taxes still. Monsanto makes $80 million less in revenue this year due to the settlement. ~$80 mill less profit ~= $20 mill fewer taxes.
- chipperyman573 10y agoCorrect me if I'm wrong, but they don't make $80M less, they just lose $80M from the amount they have made in the past (already taxed)
- randyrand 10y agoThis would be counted as a loss for this years tax purposes. So they will pay fewer taxes this year.
- sokoloff 10y agoSettlements that are classified as penalties are generally not tax deductible. Settlements that are classified as remedial/restorative generally are. This was no doubt a topic of discussion and planning before the settlement was entered into. The article repeatedly refers to it as a "penalty", but it's unclear if that's colloquial or specifically informed language.
- Retric 10y agoI doubt Monsanto pays an effective tax rate anywhere close to 20%. Further the people who receive the settlement pay taxes on it thus the taxpayer is likely better of.
- deleted 10y ago[deleted]