4 ms·
Will this also include corporations that use foreign incorporation to reduce US taxes? And I can't connect …owns an estimated 4 percent of Facebook and stands
by jws 14y ago
Will this also include corporations that use foreign incorporation to reduce US taxes?
And I can't connect …owns an estimated 4 percent of Facebook and stands to make $4 billion…
with …help him duck up to $67 million in taxes.
He is allegedly avoiding a 1.7% tax on his projected $4000 million? It sounds a bit of a stretch to say he'd renounce citizenship just to save what amounts to trading noise. (e.g. AAPL and GOOG each moved more than that in the last 3 hours, in opposite directions.)
- sp332 14y agoFrom what I've heard, the "exit tax" is equivalent to paying capital gains tax (fairly low 15%) on all stocks you currently hold. His will come to $0.5B in taxes! So leaving the country might avoid some other taxes that come to $170M. Anyway he's currently living in Singapore, so maybe switching citizenship wasn't as big a deal.