Unions rip Comcast over tax loophole

[Omaha Steve]

http://thetimes-tribune.com/news/regional-briefs-4-28-2011-1.1138752#axzz1KsKD4x4s

Published: April 28, 2011

DUPONT - State and municipal union workers protested outside a Comcast office on Wednesday over a tax loophole that allows companies like the cable television provider to not pay corporate income taxes.

Demonstrators said the so-called "Delaware loophole," in which Pennsylvania companies can incorporate in Delaware to avoid paying corporate income taxes, shortchanges the state from much-needed revenue that can be used to offset proposed cuts this year in funding for education and social-service programs.

Comcast Corp. is based in Philadelphia but has subsidiaries incorporated in Delaware, according to financial filings posted on its website.

A Comcast spokesman declined to comment.

Similar protests, organized by SEIU Local 668, were held in eight other cities across the state, union spokeswoman Leah Wright said.

[Donnachaidh]

1. who in hell would write such a law? Who is responsible in Delaware for this garbage?

I'm curious...

[ProgressiveProfessor]

3. The vast majority of American companies are incorporated in Deleware

Has to do with corporate law and governance according to the law profs.

[madinmaryland]

2. Delaware, AKA the Credit Card State. I swear, every adjoining state should charge

a $1000 toll for Delawarians trying to leave the state. All those tolls.

JK

[DCKit]

4. They should ALL be paying taxes wherever they do business.

Not being allowed to skate because they have a P.O. box in Delaware or the Bahamas.