[Random-bits] Kathleeen Pender: Cisco and Microsoft Didn't Pay Any Federal IncomeTax

[James Love]

The reply-to in this missive was a typo....... I was trying to send a
copy to Jake, who follows corporate tax issues, and by mistake clicked
on the roply to...
Jamie


James Love wrote:
> 
> http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2000/10/09/MN3707.DTL
> 
>    Kathleen Pender, Chronicle Staff Writer
> 
>    Monday, October 9, 2000
> 
>    Giant Cisco Didn't Pay Any Federal Income Tax
>    Businesses get break on employee stock options
> 
> SAN JOSE -- Cisco Systems, the second-most valuable company in America,
> paid no federal income taxes for its latest fiscal year thanks to a
> little-known corporate tax break on employee stock options.
> 
> Microsoft, which ranks No. 4 in market value, did not pay any federal
> taxes either, it seems.
> 
> Like many high-tech firms, Cisco and Microsoft are allowed to take a tax
> deduction for money their employees earn when they ``exercise'' options
> andbuy stock in the company at a preset price.
> 
>    [snip]
> 
> --
> James Love  mailto:love@cptech.org http://www.cptech.org
> Consumer Project on Technology, P.O. Box 19367, Washington, DC 20036
> voice 1.202.387.8030  fax  1.202.234.5176
> 
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-- 
James Love  mailto:love@cptech.org http://www.cptech.org
Consumer Project on Technology, P.O. Box 19367, Washington, DC 20036
voice 1.202.387.8030  fax  1.202.234.5176