For whatever reason, this charity (CMVT) is being taxed by the IRS - that too at a whopping 7%! I am sure the Israeli tax law is being stretched by the company. It is a matter of time before people start asking questions - hopefully that will be much before IRS knocking the company doors for its fair share. If you tax this company at the nominal 35%, net income comes to $48 mil not $68 mil as claimed. May be they will ask questions and may be they won't.
siliconinvestor.com
Income before tax provision 134,612 201,655 49,102 73,475
Income tax provision 11,508 14,546 4,147 5,061
Net income $123,104 $187,109 $ 44,955 $ 68,414 |
