Burger King Moves North to Canada for Tax Reasons.

[Pogo]

What is Burger King's "effective" tax rate in the U.S.? What will it be in Canada?

In spite of Flagg's claim that it is 40%, the corporate marginal tax rate in the USA is 35%

You got your accounting degree where? wikipedia?


The DNC must have sent out the afternoon emails for their operatives/pawns to push in message boards.

Think so? Who started this strawman thread? And what did he bring to back it up?
Sorry, she. It. Whatever.

 

[percysunshine]

And ... Burger King is going to pay what on their foreign earnings, plus paying the foreign government taxes on local earnings.

No, Even if the deal goes through BK will pay US taxes on US earning. Only foreign earnings are taxed at Canadian rates.

Nope. The US does double taxation. Why do you think corporations are doing this? It isn't because Canada is a nice place to live...even though it is.

 

[kaz]

I don't start a thread without backing up my point. How 'bout chew?

And what does a political philosophy -- which you claim to aspire to -- have to do with ability to back up one's point?

Why didn't you put this link in the OP? Too weak?

So if I start a thread on WWII, you expect a link that we fought the Nazis and we won? Go to google and type in this, "Burger King Canada Taxes" and you will get a plethora of articles. After that, you can ask me to fill your bathtub with hot water for you...

 

[theDoctorisIn]

Last year, Burger King paid an effective tax rate of 27.5% (in the US), and Tim Hortons paid an effective tax rate of 28% (in Canada).

Pretending that the merger is because of tax reasons is just silly.

Pretending that you know the truth from what you read and they are idiots who didn't think it through is just silly.

I don't think Burger King are "idiots who didn't think it through". I'm sure they did think it through.


On the other hand, I think everyone who believes the purpose of the merger was to avoid taxes are idiots who didn't think it through.

.
-- Which is why there's no link to anything in the OP. It's pure speculation passed off as reality.

Which is why I awarded it this trophy.
Congrats, Kazinski!

A simple Google search will tell you that you're wrong. I'm not going to cut up your food for you at dinner either.

A "simple google search" will tell you whatever you want it to say.

If you search for it, Google will tell you that GWB is a shape shifting space lizard.

Other people on the internet agreeing with you isn't evidence of anything.

 

[Pogo]

I sincerely hope that the next embicile who is "elected" to the White House understands that if you run your corporations out of America - there will be fewer and fewer jobs. Good God - this country has lost it's mind.

You're claiming that BK plans to close its stores here? Just because they move a corporate HQ?

No stupid - I did NOT say that they are closing their stores you stupid jerk. Wake the fuck up you moron.

Then why would there be "fewer and fewer jobs", you great big mean old poopy pants?

The stores will stay here, headquarters will move to Canada. What about that confuses you?

How many jobs are there at HQ -- that would need to move? Any at all?

 

[AvgGuyIA]

Burger King's overall effective tax rate was 27.5% in 2013, according to its annual report. Ontario has a provincial corporate tax rate of 26.5%.

IRS Eh Tim Hortons Deal Could Lower Burger King's Tax Bill Fox Business

I don't see any big tax advantage.

LOL, crap. Burger King is moving and they didn't do the math? Wow, will they be upset when they find out. You people are ridiculous, obviously they did, Homey.

I'm fairly certain that the "math" involved has a lot more to do with Tim Horton's profits, not the tax rate.

Who is Tim Horton?

 

[kaz]

If what you are saying is true, how come Burger King and Tim Horton's (pre-merger) pay essentially the same effective tax rate?

Bloomberg's analysis:

1. U.S. companies pay the U.S. Internal Revenue Service a tax rate of 35 percent on income they earn in the U.S.
2. U.S. companies pay the IRS a tax rate of 35 percent on income they earn abroad, but they can credit the amount of foreign tax they pay against that liability. So for instance if you earn $1,000 in Canada, you owe $350 of taxes in the U.S., but you can reduce that by the $150 that you paid to Canada (which has a 15 percent corporate tax rate), so you only end up paying the IRS $200. But still your effective rate is 35 percent -- 15 percent to Canada, 20 percent to the U.S. -- though you can defer those U.S. taxes for a long time if you just invest the money offshore.1 And because basically no countries have a higher corporate tax rate than the U.S. -- and plenty have lower or zero rates2 -- that means that U.S. companies owe the IRS taxes on pretty much all the income they earn anywhere in the world.
3. Foreign companies pay a tax rate of 35 percent on the income they earn in the U.S. And, for the most part, that's it: Their home tax authorities rarely charge them tax on income that they earn in the U.S.3
4. Foreign companies mostly just pay whatever the tax rate is in the country where they earn their income, and don't bother writing extra checks to the U.S. tax authorities.

So the purpose of an inversion has never been, and never could be, and never will be, "ooh, Canada has a 15 percent tax rate, and the U.S. has a 35 percent tax rate, so we can save 20 points of taxes on all our income by moving." Instead the main purpose is always: "If we're incorporated in the U.S., we'll pay 35 percent taxes on our income in the U.S. and Canada and Mexico and Ireland and Bermuda and the Cayman Islands, but if we're incorporated in Canada, we'll pay 35 percent on our income in the U.S. but 15 percent in Canada and 30 percent in Mexico and 12.5 percent in Ireland and zero percent in Bermuda and zero percent in the Cayman Islands."

Burger King May Move to Canada for the Donuts - Bloomberg View

 

[Pogo]

I don't start a thread without backing up my point. How 'bout chew?

And what does a political philosophy -- which you claim to aspire to -- have to do with ability to back up one's point?

Why didn't you put this link in the OP? Too weak?

So if I start a thread on WWII, you expect a link that we fought the Nazis and we won? Go to google and type in this, "Burger King Canada Taxes" and you will get a plethora of articles. After that, you can ask me to fill your bathtub with hot water for you...

I see the phrase "too weak" was itself too weak. Ironic, that.
You made the assertion; creating an entire new thread. Who do you expect is supposed to back it up? The BK king? Burden of proof is on the asserter. That would be you. It's not my point, is it?

Why do you need your hand held putting a thread together?

 

[theDoctorisIn]

Burger King's overall effective tax rate was 27.5% in 2013, according to its annual report. Ontario has a provincial corporate tax rate of 26.5%.

IRS Eh Tim Hortons Deal Could Lower Burger King's Tax Bill Fox Business

I don't see any big tax advantage.

LOL, crap. Burger King is moving and they didn't do the math? Wow, will they be upset when they find out. You people are ridiculous, obviously they did, Homey.

I'm fairly certain that the "math" involved has a lot more to do with Tim Horton's profits, not the tax rate.

Who is Tim Horton?

Tim Horton's is a large Canadian coffee house chain. I have no idea who Tim Horton was, if he ever actually existed.

 

[Vandalshandle]

Nope. The US does double taxation. Why do you think corporations are doing this? It isn't because Canada is a nice place to live...even though it is.

I suspect that even Kas will back me up on this. Again, US earnings are taxed at US rates. Foreign earnings stay in the foreign country of the company headquarters, and are not taxed in the US unless transferred back to the US.

 

[EdwardBaiamonte]

What is Burger King's "effective" tax rate in the U.S.? What will it be in Canada?

In spite of Flagg's claim that it is 40%, the corporate marginal tax rate in the USA is 35%

When you include state taxes its 40%. The US should eliminate the tax altogether since consumers pay it in the form of higher prices and it forces our corporations to move out.

we have the tax only to pander to the pure and perfect ignorance of liberals who think corps should pay their fair share.

 

[Darkwind]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

 

[Rikurzhen]

Burger King's overall effective tax rate was 27.5% in 2013, according to its annual report. Ontario has a provincial corporate tax rate of 26.5%.

IRS Eh Tim Hortons Deal Could Lower Burger King's Tax Bill Fox Business

I don't see any big tax advantage.

LOL, crap. Burger King is moving and they didn't do the math? Wow, will they be upset when they find out. You people are ridiculous, obviously they did, Homey.

I'm fairly certain that the "math" involved has a lot more to do with Tim Horton's profits, not the tax rate.

Who is Tim Horton?

Tim Horton's is a large Canadian coffee house chain. I have no idea who Tim Horton was, if he ever actually existed.

Probably a god amongst me, AKA, a hockey player. Or maybe a famous mountie.

 

[percysunshine]

Burger King's overall effective tax rate was 27.5% in 2013, according to its annual report. Ontario has a provincial corporate tax rate of 26.5%.

IRS Eh Tim Hortons Deal Could Lower Burger King's Tax Bill Fox Business

I don't see any big tax advantage.

LOL, crap. Burger King is moving and they didn't do the math? Wow, will they be upset when they find out. You people are ridiculous, obviously they did, Homey.

I'm fairly certain that the "math" involved has a lot more to do with Tim Horton's profits, not the tax rate.

Who is Tim Horton?

He is Willie's brother.

.

 

[kaz]

A "simple google search" will tell you whatever you want it to say.

If you search for it, Google will tell you that GWB is a shape shifting space lizard.

Other people on the internet agreeing with you isn't evidence of anything.

So if I spoon feed you, how is that different? Actually, a Google search will tell you a consistent story about the taxes and how it benefits them. You may not like my system, but I am consistent, I Google constantly during discussions to learn about and validate or contradict the claims people make. I always have another tab open to do that. Not planned, I have one now. It says, "Burger King May Move to ..."

 

[Pogo]

Burger King's overall effective tax rate was 27.5% in 2013, according to its annual report. Ontario has a provincial corporate tax rate of 26.5%.

IRS Eh Tim Hortons Deal Could Lower Burger King's Tax Bill Fox Business

I don't see any big tax advantage.

LOL, crap. Burger King is moving and they didn't do the math? Wow, will they be upset when they find out. You people are ridiculous, obviously they did, Homey.

I'm fairly certain that the "math" involved has a lot more to do with Tim Horton's profits, not the tax rate.

Who is Tim Horton?

Tim Horton's is a large Canadian coffee house chain. I have no idea who Tim Horton was, if he ever actually existed.

ex- hockey player. Killed in 1974 in a car accident at age 44.
They're fast food joints but definitely a notch above BK. Let's say halfway between there and Panera.

As of 2014, in addition to over 3,000 locations in Canada, there are over 556 Tim Hortons Doughnut Shops in the United States, and they can be found in Michigan, Ohio, New York, Maine, Pennsylvania, and other American states, mainly in the Northeast and the Great Lakes region. -- Wiki
​

Naaaah, I made that up. It's a single donut shop in Sudbury that makes a convenient tax shelter.

 

[kaz]

Nope. The US does double taxation. Why do you think corporations are doing this? It isn't because Canada is a nice place to live...even though it is.

I suspect that even Kas will back me up on this. Again, US earnings are taxed at US rates. Foreign earnings stay in the foreign country of the company headquarters, and are not taxed in the US unless transferred back to the US.

Yep, I'll back you up on that, you are correct.

 

[NYcarbineer]

I thought corporations didn't pay taxes. That's what the RWnuts used to say.

 

[kaz]

I don't start a thread without backing up my point. How 'bout chew?

And what does a political philosophy -- which you claim to aspire to -- have to do with ability to back up one's point?

Why didn't you put this link in the OP? Too weak?

So if I start a thread on WWII, you expect a link that we fought the Nazis and we won? Go to google and type in this, "Burger King Canada Taxes" and you will get a plethora of articles. After that, you can ask me to fill your bathtub with hot water for you...

I see the phrase "too weak" was itself too weak. Ironic, that.
You made an assertion who do you expect is supposed to back it up? The BK king? Burden of proof is on the asserter. That would be you. It's not my point, is it?

Why do you need your hand held putting a thread together?

You have plenty of links now. Instead of continuing to whine about that I didn't put them in my first post and you weren't going to do it yourself, why don't you move on now that you have them.

 

[theDoctorisIn]

...and yet, the president does not set tax rates. Congress does, and the House is controlled by Republicans....

The current tax rate was set this year? Amazing...

Actually, the current tax rate was set in 1986, signed into law by Saint Reagan himself.