Conseco Insurance (CNO) Message Board

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Non-Tech : Conseco Insurance (CNO)

CNO 41.25

+1.9%

Nov 7 9:30 AM EST

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To: Mr. Aloha who wrote (1782)	7/12/2000 4:48:02 PM
From: donjuan_demarco	Read Replies (3) of 4155

The journalists goofed. Clearly the language in the 8K refers to the excise tax on excess golden parachute payments under section 4999: Message 14023640 The journalists just assumed it was the income tax. One of them even asked an accountant who said yes, CNC is liable for the income tax. Basically, the formula in the 8K says figure out the total tax without the excise tax, and figure out the tax with the excise tax, and CNC pays the difference. The fact that the media made this mistake makes me wonder how many other mistakes they make. PS: I am a tax lawyer, which is why I caught it.

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