How much federal tax does mcdonalds pay from global sales. thanks?
Answers:
The 2006 annual report for McDonald's Corp. shows a total provision for income taxes of $1.3 billion on pretax income of $4.2 billion worldwide, and an effective rate of 31%. The US federal portion of that was $685 million, of which $633 million was current and the rest deferred. This does not necessarily all represent cash tax paid, but does represent the company's best estimate of the total tax it will eventually pay on account of income earned in 2006.
Tax returns are confidential between the taxpayer and the IRS. Unless McDonalds decides to release the corporate tax return or discloses the amount in their annual report, there's no way to find out.
why would you want to know? just check out their shareholder statements, they have to let the shareholders know what is going on in the company as part of the promise to remain solvent
None. That's right, NONE.
Corporations actually write the checks for corporate income taxes, but those taxes are passed on to the consumer in ALL cases. Corporations are beholden to the shareholders and must maintain a reasonable profit, i.e. Return on Investment on the investments made by the shareholders.
Ergo, when the Imperial Federal Government taxes the profits of corporations, they are in effect INCREASING the cost of doing business, effectively raising the price of the products for consumers. If corporate taxes were lowered or removed, goods would cost less. Most people can't (or won't be able to) understand this because they don't know the difference between 'profit' and 'profit margin'.
Since it'd cardboard food I bet they don't pay much tax
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