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A comment on Amazon in Its Prime: Doubles Profits, Pays $0 in Federal Income Taxes. Parent comment

Re:Amazon in Its Prime: Doubles Profits, Pays $0 in Federal ... by a_c_s on Wednesday February 13, 2019 @03:11PM (#19156485)
How about this example: a corporation buys a yacht that the CEO has exclusive use of and lives on. Now the CEO gets full food & board & luxury sea transportation provided. The CEO's salary is $1.

The CEO is taking untaxed value out of the corporation but paying no income tax. If the corporation pays no taxes either, then the staff of the yacht will be paying more taxes than the CEO & corporation combined!

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Re:Amazon in Its Prime: Doubles Profits, Pays $0 in Federal ... by aidenn0 on Wednesday February 13, 2019 @03:43PM (#19156790)
Aside from the fact that this is illegal under the current rules (most perquisites are considered income by the IRS), the yacht is an expense, so reduces the taxes the corporation pays under today's rules.
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