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Revenue from HB3176 Will Catch Up with Existing Tax Law in 2017
,----[ Quote ]
| As long as Washington State doesn't go broke
| before 2017, we'll eventually catch up to
| the damage done by HB3176. But, HB3176 may
| throw away a lot of cash (Microsoft's tax
| debt) up front that the state could benefit
| from today.
|
| Following up on yesterday's post on
| Microsoft's $100 million tax cut and
| potential tax amnesty, I've done a brief
| analysis of the impact of HB3176's proposed
| changes to the royalty tax. Based on this
| analysis, the current royalty tax alone will
| generate more revenue for the state until
| 2017 when the combined increased revenue
| sources from HB3176 will catch up with the
| loss of the domicile-based royalty tax.
`----
http://microsofttaxdodge.com/2010/02/revenue-from-hb3176-will-catch-up-with-existing-tax-law-in-2017.html
Seattle Weekly Highlights Seattle Times Failure to Cover Microsoft's Tax Dodge
,----[ Quote ]
| In the midst of Washington State's brief
| biennial legislative session to address the
| state's pending insolvency from a $2.8
| billion budget deficit, you might think that
| an estimated $1.27 billion tax dodge by
| Microsoft, the state's most profitable
| company, and a proposed bill by Bill Gates'
| own representative which would grant
| Microsoft a $100 million annual tax cut and
| likely amnesty from it's unpaid taxes would
| warrant coverage in the state's most
| successful newspaper, The Seattle Times.
|
| [...]
|
| I don't understand why the paper won't cover
| the issue though the Times has had a history
| of taking stances on the estate tax at odds
| with our community's traditional centrist
| values. In 2000, the paper endorsed George
| Bush for President. This week, the paper
| complained that the Legislature's proposed
| sales tax increase was enough to push the
| author to evade the sales tax by driving
| south to Oregon.
|
| I know Seattle journalism is under strain.
| The failure of the print edition of the PI
| recently has hurt the city. But, it's up to
| journalists to make their work relevant to
| readers. In choosing so far not to cover
| this issue, the Seattle Times is failing all
| of us. If you don't cover issues that
| materially affect events in our region, then
| perhaps your business deserves to struggle
| financially.
`----
http://microsofttaxdodge.com/2010/02/seattle-weekly-highlights-seattle-times-failure-to-cover-microsofts-tax-dodge.html
Recent:
Bill Gates Suggests Taxing Banks to Cut Federal Deficit
,----[ Quote ]
| Bill, let's be honest, it's hypocritical to
| suggest taxing banks to reduce the federal
| deficit while your company Microsoft
| contributes to Washington State's $2.6
| billion deficit with its alleged $728 million
| evasion of the royalty tax.
|
| You say the federal deficit could be the
| "next crisis". What about your home state's
| impending insolvency? What about our current
| local crisis?
`----
http://microsofttaxdodge.com/2010/01/bill-gates-wants-to-tax-banks-to-cut-federal-deficit.html
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