Apr 15, 2010

How much is Walmart scamming your state?

Today is tax day! You probably already knew that. And if you didn't, you might want to go take care of a few things -- after you read this.

Yep, today regular Americans file their taxes. And what about, say, the biggest employer in America? What is Walmart up to today? As our friends at Wake Up Walmart have so aptly noted, Walmart is "short changing states using tax loopholes and fancy accounting schemes."

"As states face budget shortfalls, firing teachers, public servants, and tightening their belts, Walmart is posting huge profits. Some of those profits are gained at the expense of your state because Walmart uses state tax loopholes, possibly costing states millions in revenues.

"Walmart has been using high-risk tax loopholes to avoid liability for up to $2.9 billion in additional taxes to state, federal, and other governments, as disclosed in the company’s recent SEC filing."
Not very neighborly. And if that's not enough to make you want to fire off a note to your state's tax authorities, take a look at this lovely internal Walmart memo, "Ideas for State and Local Tax ETR Reduction." That translates to, "Tax Loophole Scams," in plain English.

So as you file those tax returns, handing over hard-earned money to the government because you know it's the right thing to do -- and you know the services you get in return (like public schools and social security) are a fundamental part of what makes this a great country to live in -- how does it feel knowing that Walmart, the biggest company in America, is trying every trick they can think of to get out of contributing to our country's well-being?

Are you mad yet? Good. Head over to Wake Up Walmart and send a letter to your state tax authorities calling on them to investigate Walmart to determine which loopholes they’re using to avoid paying their fair share of taxes.

1 comment:

陳石薇 said...