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Politics : View from the Center and Left

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To: 8bits who wrote (72341)	6/15/2008 10:25:48 PM
From: Bridge Player	Read Replies (1) of 542068

Exxon's net cash and short term investments (after subtracting debt) is about the same as Microsoft's note also how much Msfot has to pay in taxes: finance.google.com A much smaller percentage than your average oil company. Taxes are paid on earnings, not net cash or short term investments. In the year ended 6/30/2007, Microsoft had 51B in revenues, and paid taxes of around 6B, or approximately 11.8%. In the year ended 12/31/2007, Exxon had 404B in revenues, and paid taxes of around 29B, or approximately 7.2%. These aren't apples to apples comparisons, because they are of course totally different industries with scores of different accounting rules relative to every aspect of their finances. Nevertheless, I don't think it is quite accurate to say that MSFT pays a much smaller percentage than your average oil company. Haven't really looked at tax rates of other oil majors.

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