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Some sibling comment to oc seems pretty straightforward: the profit taxed is the profit reported to shareholders
by 0_gravitas 8y ago
Some sibling comment to oc seems pretty straightforward: the profit taxed is the profit reported to shareholders
- anchpop 8y agoWhat would prevent a company from telling the shareholders they made no profit? Is there a separate process that prevents them from lying and is more difficult to manipulate than the current tax code?
- guelo 8y agoPresumably they want the stock to go up so they would want to report a profit. And Wall Street gets pretty upset with any company trying to cheat on their GAAP reporting