3 ms·
Correct 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)
by chipperyman573 10y ago
Correct 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.