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To: Bearcatbob who wrote (156903)	9/12/2011 9:04:04 PM
From: 8bits	Read Replies (1) of 206165

To Bearcatbob: We need to find out what tax breaks enabled GE to pay zero income tax last year and end those tax breaks as well. Not that I a huge fan of GE or tax breaks but it appears that GE paid no taxes mostly because of substantial losses in previous years and refunds for over payments to the IRS: businessinsider.com Q: Is it fair to say GE's 2010 tax liability will be lower than it historically has been? A: Yes. It's primarily due to sizable losses at GE Capital (which had $32B in losses 2008-2010), but was further compounded by a multi-year IRS audit settlement received in the fourth quarter of 2010 (for overpayments in prior years), failure of the NBCU acquisition to close as expected in Q4, tax credits (R&D, etc.) and deferral of overseas earnings among other things contributed. Read more: businessinsider.com I do remember for at least one year in the late 90s that both Cisco and Microsoft paid no income taxes because they could expense employee stock options. (Dilute your stockholders and pay no income tax, groovy...) articles.sfgate.com billparish.com

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