4 ms·

Pre-tax income is not gross. But this is ignoring a lot of stuff like tax loss carry forwards.

• missedthecue 5y ago
  Another big one are R&D tax credits, passed under the Obama administration. The government told companies that they can save on tax if they pour money into research, so companies poured money into research and then (certain extremely vocal members of) the government got mad that they saved on tax.
  • qeternity 5y ago
    “We need to invest more in our country!” “Whoa whoa quit investing, we need your tax revenue!”