Half of S&P 500 report more money for foreign taxes than U.S. taxes
STEPHEN GANDEL, 09 April 2021
Nearly half of the large U.S. companies that make up the S&P 500-stock index set aside more money to pay foreign taxes in 2020 than they did for payments to the U.S. government — a lot more money.
In all, 241 S&P 500 companies last year earmarked a combined $73 billion for taxes to foreign governments and just $6.7 billion to cover U.S. taxes, according to a CBS MoneyWatch analysis of the companies’ regulatory filings and data from financial information firm FactSet. That’s a foreign-to-domestic tax ratio of more than 10-to-1.
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Gravity, Fraud, and Prostitutes?
Jimmy Mengel, 17 September 2020
That’s exactly what Hindenburg Research accused Nikola Motors (NASDAQ: NKLA) of in a scathing short report last week called Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America. The high-flying electric car company — which has seen 200% gains in the last six months — was called an “intricate fraud” and the once-skyrocketing stock came crashing back down to Earth: That’s a 32% drop in a week after rallying from the historic partnership with General Motors (NYSE: GM). The “Big Three” American automaker took an 11% stake in the company worth $200 billion in equity. It appeared as if the old guard had merged with the new one in an alliance to take on Elon Musk’s Tesla crown.
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