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They're paying plenty of tax whenever they cash out. For example: "After cashing in more than 9 million shares valued at $3.7 billion last year, 16 Google insi
by DocSavage 19y ago
They're paying plenty of tax whenever they cash out.
For example:
"After cashing in more than 9 million shares valued at $3.7 billion last year, 16 Google insiders will owe the Golden State as much as $380 million in taxes -- enough to cover the salaries of more than 3,000 state workers."
http://www.boston.com/business/taxes/articles/2007/01/06/google_stock_boom_boosts_calif_coffers/ http://www.boston.com/business/taxes/articles/2007/01/06/goo...
- ardit33 19y agoTrue, but there is a huge difference. They are paying taxes as for "capital gains", which means they get taxed only 15%, instead of a normal income ( which is over 30%). This is the same thing that Buffet was saying that the rich people are getting taxed a lot less (percentage wise) then their secretaries.
- procrastitron 19y agoInteresting. If I were them I'd move to a state that didn't have a state capital gains tax before cashing out. Then again, I guess when you cash out 3.7 billion dollars in a single year, 380 million seems like pocket change.