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Ending Las Vegas Loophole Will Make Sure $90 Million That Happens in Wisconsin, Stays in Wisconsin
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Rolling out their economic stimulus package for the state, Senate Democrats are calling for an end to the ridiculous "Las Vegas Loophole." Under the loophole corporations dodge $90 million owed to Wisconsin taxpayers by setting up a skeleton subsidy in a place like Nevada, which doesn't collect corporate incomes taxes.

Remember, as long as they duck their $90 million, we have to pick up the tab. The idea that a corporation can benefit from the infrastructure and shared services in which we all pay and then avoid taxes we have to pay by getting a post office box in another state is hard to defend.



Rolling out their economic stimulus package for the state, Senate Democrats are calling for an end to the ridiculous "Las Vegas Loophole." Under the loophole corporations dodge $90 million owed to Wisconsin taxpayers by setting up a skeleton subsidy in a place like Nevada, which doesn't collect corporate incomes taxes.

Remember, as long as they duck their $90 million, we have to pick up the tab. The idea that a corporation can benefit from the infrastructure and shared services in which we all pay and then avoid taxes we have to pay by getting a post office box in another state is hard to defend.

Cue Scott Fitzgerald, the articulate Senate Minority Leader, who quickly bemoaned any attempts at simple corporate accountability. In denouncing government spending, he did not offer to withdraw the state from its current obligation to pay the health care for him and his family at cost to him of just two bucks a day. This despite his longstanding objection to Healthy Wisconsin, which would give you the same benefits he has.

And let's not forget, the big $300 million taxpayers will lose due to the end of the estate tax in Wisconsin. If you haven't taken the time to sign the OWN petition calling on the state legislature to plug the budget hole with that tax loophole, click here to act today.


Reader Comments

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Corporate taxes
By J. D. Wine Feb 7th 2008 at 3:43 pm EST
If my memory serves me right, 62% of Wisconsin's 300 largest corporations pay NO TAXES at all. There are methods to get around their post office boxes, for example apportioning taxable income (revenue) to Wisconsin based on the company's national income (revenue) and portion of business square footage in Wisconsin or instead of using square footage use sales etc.
  
More and more people
By Gonzalo Feb 3rd 2009 at 11:04 pm EST (Updated Feb 3rd 2009 at 11:04 pm EST)
More and more people are struggling to meet their ends and the number of people that are losing their job is increasing. With the economic crisis that we are facing Americans have become more cash conscious, and they are sticking more and more money away into their savings, so they have some extra cash on hand if anything happens. The economic stimulus plan Obama is working on includes a generous tax cut – about $500 per year for most taxpayers. Granted, that adds up to about an extra $20 per pay check, but its extra cash, right? And $500 could save you from needed a payday advance loan. This still isn't the kind of amounts that will fight off a major sudden expense, but that's why you can get a payday advance loan. Click on this Link.
  
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