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Tag: Taxes
In 2018, Activision Blizzard Got $228 Million From Taxpayers For Existing
If you live in the United States and thought you could get away with not giving Activision money simply by not buying their products, you’re in for a nasty surprise.
ITEP, the Institute on Taxation and Economic Policy, posted a list of 60 companies avoiding all federal income taxes in 2018.
“For decades, profitable Fortune 500 companies have manipulated the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits. This ITEP report provides the first comprehensive look at how corporate tax changes under the 2017 Tax Cuts and Jobs Act affect the scale of corporate tax avoidance. The report finds that in 2018, 60 of America’s biggest corporations zeroed out their federal income taxes on $79 billion in U.S. pretax income. Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate, these companies enjoyed a net corporate tax rebate of $4.3 billion.”
Activision Blizzard notably started out 2019 with the best results in company history, which they celebrated by firing nearly a thousand workers. While celebrating their major financial success and putting hundreds of people out of work, Activision also wound up claiming a -51% effective tax rate. Yes, Activision got $228 million from US taxpayers simply for existing.
We should all get a ride on Bobby Kotick’s private plane. We helped pay for it after all.
Source: ITEP
Old School RuneScape Introduces Taxes On Duel Arena
If Jagex isn’t careful, they’re going to have players throwing tea into Port Sarim.
The only guarantees of life in RuneScape are death and, apparently now taxes. This week’s update to Old School sees the implementation of several changes to combat real money trading, and the main headliner is the inclusion of taxes on duels. Winners will be charged a percentage depending on the size of the stake, ranging from .25% to 1% (see illustration above), and cash bets will need to be within ten thousand gold in value.
In addition, it will no longer be possible to stake items. Unlike most of Old School RuneScape’s changes, this update was not polled to players for approval.
(Source: RuneScape)
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