TheoWire

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Companies Swallow $2.1 Billion in Taxes as Executive Pay Climbs

The Wall Street Journal | Thursday, July 21, 2022

Companies are racking up hundreds of millions of dollars in income taxes on pay for top executives, a growing bill that in some cases makes up a sizable chunk of their annual tax expense.

Tesla Inc. booked $447 million in taxes on executive pay over three years. Pay for officers generated nearly 20% of all tax costs booked by defense contractor Howmet Aerospace Inc. in the same period. At cosmetics retailer Ulta Beauty Inc., executive pay subject to corporate tax has more than tripled since 2019.

U.S. Businesses Find Welcome Surprises in Tax Bill

The Wall Street Journal | Tuesday, December 19, 2017

The final tax bill offers much of what large companies hoped to gain from the Republican overhaul: the billboard corporate rate was knocked down, cuts were accelerated and key credits were preserved.

“Overall, the business community is very pleased with the bill,” said Neil Bradley, chief policy officer at the U.S. Chamber of Commerce. “If someone would have said 11 months ago, by the end of the year we’d able to produce a bill and get it to the president’s desk that does these things, skepticism would have been sky high.”

20% vs. 22%: The Tension Over Two Points in the Corporate Tax Rate

The Wall Street Journal | Tuesday, December 12, 2017

Two percentage points are generating a big tussle in the debate over the right corporate tax rate.

As House and Senate lawmakers continue hashing out differences between their tax-overhaul bills, the prospect lingers that they could push the new corporate tax rate to 22%.

Companies Push to Repeal AMT After Senate’s Last-Minute Move to Keep It Alive

The Wall Street Journal | Monday, December 4, 2017

Technology, banking and other industries mounted a new round of lobbying Monday to save a wide range of tax breaks following the last-minute switch in the federal tax overhaul by the U.S. Senate.

The Senate on Saturday decided to keep a corporate alternative minimum tax, or AMT, a move that gave the senators $40 billion over a decade to use on other priorities, according to the official estimate.

For Multinationals, the Tax Bill’s Good Likely Outweighs the Bad

The Wall Street Journal | Friday, December 1, 2017

Multinational corporations have a lot to like in both the House and Senate tax-overhaul proposals. Depending on a company’s structure and operations, there could be a lot to worry about as well.

Companies with bigger U.S. operations, big capital budgets and less debt stand to benefit more, tax experts say. Those that have spent years shifting intellectual property and profits overseas are likely to see less benefit.

“For the majority of the economy, I think companies will net out better,” said Stefanie Miller, senior tax analyst with Height Securities LLC.

How Do America’s CEOs Feel About the Tax Plans? They’re Watching the Details

The Wall Street Journal | Tuesday, November 14, 2017

WASHINGTON—While lawmakers in the House and Senate craft dueling versions of tax-overhaul legislation, battling over corporate tax rates and rules for overseas income, corporate chiefs at a gathering across town are sweating some of the smaller stuff.

Businesses Push Workers to Mobilize Before Tax Revamp

The Wall Street Journal | Sunday, October 29, 2017

OMAHA, Neb.—In the parking lot outside Elliott Equipment Co.’s manufacturing plant here last month, more than a hundred employees gathered in front of a banner-bedecked truck, its raised boom flying an American flag 30 feet overhead, to hear from the company’s chief executive and the local congressman.

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