Paul L. Caron
Dean





Wednesday, April 6, 2011

The Onion's Take on GE's Aggressive Tax Planning

G.E. Logo The Onion, General Electric's Aggressive Tax Strategy:

Americans were outraged when it came to light recently that multinational corporation General Electric paid no taxes for 2010. Here are some of the ways GE avoided the tax man:

  • Saved all receipts from aggressive lobbying efforts
  • Purchased TurboTax Corporate Max Edition
  • Wrote off bankruptcy of sister company Abstract Electric
  • Brought a few hundred million good things to life; claimed them as dependents
  • Somehow managed to locate a loophole in the transparent, ironclad U.S. tax code
  • Claimed entire NBC prime-time lineup as a loss
  • Claimed cash as a spouse, earned marriage tax credit
  • God hates us

https://taxprof.typepad.com/taxprof_blog/2011/04/the-onions-.html

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