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Interestingly 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 mi
by randyrand 10y ago
Interestingly 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.