Facing a $2.8 billion deficit and pending insolvency, Washington State's House Bill 3176 proposes changes to its B&O Royalty tax that would give Microsoft an estimated $100 million tax cut annually and possible amnesty for more than a billion dollars in past tax evasion.
Under current law, all of Microsoft's worldwide licensing revenues of approximately $20.7 billion annually are taxable at .484 percent or ~$100.1 million. Under the new law, only the portion of software licenses sold to Washington state customers would be taxable - perhaps resulting in less than a million annually in royalty tax from the company.
The lead sponsor of HB3176 is Democratic Representative Ross Hunter, who represents Medina, home to Bill Gates and a number of current and former Microsoft billionaires and multi-millionaires, and other areas around Microsoft's corporate campus.
Washington to Give Microsoft a $100 Million Annual Tax Cut...and Possible Amnesty on Past Tax Evasion
(Image: WEB DEVELOPERS!, a Creative Commons Attribution photo from Nick, Programmerman's photostream)
Binding arbitration agreements were formalized in 1925, allowing two corporate entities of roughly equal size to resolve their disputes outside of a court, saving both parties a lot of money, but since then, the primary use of arbitration is to force employees, customers, patients and other comparatively weak parties to surrender their right to sue […]
Emergency rooms at for-profit hospitals are notorious price-gougers, where an ice-pack and a bandage can cost $5,000, and where no one will tell you how much your care is costing until months after the fact.
In 2017, Pricewaterhousecooper published Using science fiction to explore business innovation, a guide for corporations that wanted to work with sf writers to think about the future of their businesses; it was part of a wave of corporate interest in the insights of sf writers, which also coincides with a parallel trend in academia (see, […]
So you’ve got a good eye for pictures? We’ve got a good eye for deals. And this holiday, there are some solid deals out there for photographers. Check out some of our favorite recent discounts on gear, software, and e-learning for photogs of any experience. Gadgets RevolCam: The Multi-Lens Photo Revolution for Smartphones This […]
Take a scroll through any app marketplace and you’ll see that the doors are wide open for any game these days – and any game developer. Like any creation, virtual or analog, it all starts with an idea. And if you’ve got one of those, the Complete Unity Game Developer Bundle can walk you the […]
At the rate the world is shrinking, you don’t need to be a globetrotter for a second language to be a useful skill. And if you’re looking to learn that second language (or a third, or fourth), uTalk Language Education is the learning program that makes progression not only easy but fun. If you can’t […]