General Discussion

Ms. Toad

(38,663 posts)

92. GE actually did pay taxes in 2010

Sat Nov 2, 2013, 08:34 PM

Nov 2013

Which is what I assume you are referring to.

Here is a decent article sorting it out (to the extent it is public): http://features.blogs.fortune.cnn.com/2011/04/04/the-truth-about-ges-tax-bill/

If I set up my personal withholding perfectly, on April 15 I will owe the government nothing. That doesn't mean I paid no taxes for the year; I have been paying them as part of each paycheck all year long. All it means is that I don't have a balance due at the end of the year.

I'm not defending GE's tactics to minimize its US tax bill - but looking at the bottom line on the annual balance sheet: remaining balance due (or refund owed) says absolutely nothing about the income taxes paid by GE for any given year. That is what the NYT looked at.

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