Barry Ritholtz, Columnist

Warren Has a Good Beginning for Ending Corporate-Tax Avoidance

Something's not right when the most profitable companies can avoid paying their share.

April 15, 2019 at 4:30 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

The 7 percent solution.
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Each year, publicly traded corporations prepare two sets of books. The first is a basic quarterly profit and loss statement that is widely disseminated to shareholders, analysts and the media.

The second is the firm’s annual corporate tax filing, submitted to Uncle Sam. It includes a statement of the year’s profits, on which tax obligations are owed to the government -- if any.