Submitted by giteam t3_11lsrt1 in dataisbeautiful
Fit-Plant-306 t1_jbg2qzv wrote
Reply to comment by HopefullyFunny69 in [OC] NVIDIA's FY22 income statement by giteam
There are many charts like this on Genuine Impact’s app and are all similar. Corporations barely pay any tax. Good ol trickle down…
Obvious_Chapter2082 t1_jbg3p5s wrote
This is the danger of looking at highly technical tax information and assuming it’s a simple read. If you dig into the 10-K for this company, they actually paid about 50% of their profit in tax this year. The discrepancy comes from a new R&D capitalization policy, which gives them a deferred tax benefit on their foreign derived intangible income. This benefit is only a small portion of the actual higher tax they’ll pay from this policy, but the US portion doesn’t impact effective tax rates
It’s wrong to say that corporations barely pay any tax, because income tax expense is a misleading metric that doesn’t relate to the tax a company pays
Viewing a single comment thread. View all comments