Johnson Control has announced that it will merge with Tyco International and move its headquarters to Ireland.
The tax-inversion deal is expected to save the firm $150 million in taxes annually and another $500 million in operating costs.
20 Comments on Company To Save $150 Mil in Annual Taxes
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Who the hell can blame them?
If countries get rich being “tax havens”, why don’t we make America a tax haven?
It’s very important to have ‘Johnson Control’…
Bye, bye Miss American pie…
Serious question:
Cruz is proposing a flat tax for corporations, basically a VAT tax. Will that apply to companies that benefit from inversion? Will Chinese corporations have to pay that same 16%? If so, will it eliminate the need for inversion?
I have tried to find that answer at various sites, and I have yet to find an answer. If somebody gets the chance, ask Ted that question at one of his events.
He’s running away from that Value Added Tax as fast as he can. Once the vehicle is in place Libs can tax the shit out of you.
You mean like President Trump plans to do?
It can’t come quickly enough.
VAT is an onerous idea.
The government would never have to raise taxes, just increase the number of ‘levels’. It would create such obfuscation of how and who pays taxes that they could get away with total political control of production.
Taxing corporate profits is also stupid. It rewards those who can either carve out an exception or are losing money. A 1% tax on gross income here, and a .1% on gross income worldwide would not only bring in more than double the revenue, it would also attract trillions of investment here leading to even more revenue.
What is Trumps proposed corporate tax rate?
What is Trumps plan?
No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes. This lower rate makes corporate inversions unnecessary by making America’s tax rate one of the best in the world.
Menderman: Go read. How can you hate this guy this much when you have no idea what his positions are?
https://www.donaldjtrump.com/positions/tax-reform
A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate, followed by an end to the deferral of taxes on corporate income earned abroad.
Too many companies – from great American brands to innovative startups – are leaving America, either directly or through corporate inversions. The Democrats want to outlaw inversions, but that will never work. Companies leaving is not the disease, it is the symptom. Politicians in Washington have let America fall from the best corporate tax rate in the industrialized world in the 1980’s (thanks to Ronald Reagan) to the worst rate in the industrialized world. That is unacceptable. Under the Trump plan, America will compete with the world and win by cutting the corporate tax rate to 15%, taking our rate from one of the worst to one of the best.
Both taken from Trump’s position
papers. Stop hating. Start reading, man!
And that’s half the recipe to recovery. Fix these stupid trade deals. Force China to quit playing games with their currency. Seal the border. Trump gets this. Nobody else does.
I hate replying to myself, but after Trump released this plan, Charles Payne of Fox Business asked him why 10% and not 0%?
Trump came back just as quickly and said, hey, at 10% it’s definitely coming back. So why not get a little something?
Love it.
I believe this company was headquartered in PA and since the people of PA went stupid yet again I suppose the company felt it was better off elsewhere.
Unfortunately, they’re based in Milwaukee, so we get to kiss another handful of jobs goodbye.
WI is losing businesses to greener tax pastures like mad these days. Which sucks.
In a Milwaukee suburb, I work just around the corner. Gotta imagine there’s a few worried employees about now.
Subtitled, “Why Democrat tax strategies never work.”