KearnstdElf WizardPremium
join:2002-01-22
Mullica Hill, NJ | 600mil tax write off why? didnt they sell something? shouldnt they have to infact pay tax on that sale? i mean if i sold my car New Jersey would expect me to declare that income.
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[65 Arcanist]Filan(High Elf) Zone: Broadband Reports |
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 swintecPremium,VIP
join:2003-12-19
Alfred, ME
kudos:3
 ·RapidVPS
 ·Sprint Mobile Br..
 ·VoicePulse
 ·RoadRunner Cable
| said by Kearnstd:didnt they sell something? shouldnt they have to infact pay tax on that sale? i mean if i sold my car New Jersey would expect me to declare that income. To us mere mortals, yes we do, if you are a big corporation, you are above everything. 
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BlockNews.Net |
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Sammer
join:2005-12-22
Canonsburg, PA | reply to Kearnstd
said by Kearnstd:didnt they sell something? shouldnt they have to infact pay tax on that sale? Technically it's a reverse morris trust where Verizon spun something off to their shareholders rather than a sale. |
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 BoogeymanDrive it like you stole itPremium
join:2002-12-17
Panama City, FL
·Comcast
| reply to swintec
Maybe BBR should incorperate so we can all enjoy tax breaks. We can be like every other company, just make up important sounding positions and viola, we're all important executives. I want to be Executive in charge of the Procrastination. Anyone who wants to procrastinate, file the paperwork and I'll get to it when I feel like it  But go ahead and procrastinate, because I'll just keep putting off reprimands for unauthorized procrastinating.
Seriously though, that is complete and utter CRAP that they dont have to pay taxes on the sale. I think there should have also been a clause saying that they couldnt ever buy it back if it was up for sale later. |
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BoogeymanDrive it like you stole itPremium
join:2002-12-17
Panama City, FL | reply to Sammer
I have no idea what that means. Can you elaborate? |
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RadioDoc58ef2c0Premium,ExMod 2000-03
join:2000-05-11 | reply to Boogeyman
said by Boogeyman:Maybe BBR should incorperate It's already owned by a LLC.
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Toolmaster of La Grange. |
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RadioDoc58ef2c0Premium,ExMod 2000-03
join:2000-05-11 | reply to Boogeyman
said by Boogeyman:I have no idea what that means. Can you elaborate? This might help. Think of it as creating a separate company which then merges with another. The VZ shareholders have an interest in spinoff and become shareholders of the resulting merged company as well.
The idea is to not have a "sale" which triggers things like capital gains taxes, etc., but more of a reorganization. That's not a fully accurate description though...the technicals are pretty complex to pass both the IRS and court ruling conditions.
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Toolmaster of La Grange. |
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KearnstdElf WizardPremium
join:2002-01-22
Mullica Hill, NJ | reply to Kearnstd
so basicly with a slight of hand and some fancy paperwork corporations can buy and sell divisions/assets tax free?
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[65 Arcanist]Filan(High Elf) Zone: Broadband Reports |
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BoogeymanDrive it like you stole itPremium
join:2002-12-17
Panama City, FL | reply to RadioDoc
*Sigh* Another dream killed by a good clean headshot of fact. |
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Sammer
join:2005-12-22
Canonsburg, PA | reply to Kearnstd
said by Kearnstd:with a slight of hand and some fancy paperwork It's actually called the Bar as in legal profession. If your a multi-billion dollar corporation you too can for a price benefit from laws written of, for, and by lawyers. |
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BoogeymanDrive it like you stole itPremium
join:2002-12-17
Panama City, FL | reply to RadioDoc
So... for example:
VZ splits into VZ and VZWireless, VZ sells the infrastructure, then merges back with VZWireless, therefore bypassing the tax on the sale? |
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Sammer
join:2005-12-22
Canonsburg, PA
2 edits | No that wouldn't work. What happened in northern New England for tax purposes is that the infrastructure was transferred to Verizon shareholders who now own a majority of Fairpoint.
This is the best way I know how to put it. Imagine a very strong king has a weak king as a brother in law who he wants to get rid of. He makes a deal with his nephew the crown prince of the weak kingdom. In exchange for some gold and the death of his father the nephew will receive a small part of the strong king's kingdom and will then inherit a much larger kingdom than his father's. The king (weak king or old Fairpoint) is dead, long live (the nephew or new Fairpoint) the king! |
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RadioDoc58ef2c0Premium,ExMod 2000-03
join:2000-05-11 | Isn't that a Shakespeare play?
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Toolmaster of La Grange. |
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Sammer
join:2005-12-22
Canonsburg, PA | Touche! It was starting to sound like a made for TV movie but at least the MPAA can't sue me. |
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KearnstdElf WizardPremium
join:2002-01-22
Mullica Hill, NJ | reply to Kearnstd
im sure they could claim your IP transerfed some of their movies. i mean you dont even need a PC to get sued!
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[65 Arcanist]Filan(High Elf) Zone: Broadband Reports |
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Reviews:
·Comcast
| reply to Boogeyman
said by Boogeyman:So... for example: VZ splits into VZ and VZWireless, VZ sells the infrastructure, then merges back with VZWireless, therefore bypassing the tax on the sale? Easier way to explain.
They spun off nothern new england so its own , basically giving it to share holders. Shareholders merged with Fairpoint , so now the share holders own part of fair point.
Fun way to avoid taxes and shift the tax burden.
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"It's always funny until someone gets hurt......and then it's absolutely friggin' hysterical!" |
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BoogeymanDrive it like you stole itPremium
join:2002-12-17
Panama City, FL | An analogy with kings? WTF, this is BBR, we need car/Iraq spending analogies.
Thanks for the explenations, I understand now. |
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