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I don't know specifically about the tech sector, but large corporations and the very wealthy in general tend to pay less tax than you'd think. Sometimes a lot l
by JohnFen 1y ago
I don't know specifically about the tech sector, but large corporations and the very wealthy in general tend to pay less tax than you'd think. Sometimes a lot less. Sometimes zero.
When you have enough assets, you can arrange your things in creative ways that minimize tax liability. Tax avoidance is legal and the tax code is written expecting it, tax evasion (doing something prohibited or failing to do something required) is not.
This is also why, when you see things like "business taxes are at X%", that's not really true. That's just the highest tax possible, which is never what's actually paid.