This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

General Electric Wants to Pay More Taxes

Lowering the corporate tax rate but eliminating a lot of the special deductions exemptions and credits "absolutely means GE's tax rate would go up," according to Wilkins. "I mean there's no place for it to go but up. GE might publicly say that it's all for tax reform but will they actually support it when it goes through Congress? I suspect they won't. I bet they'll have an army of lobbyists in there trying to fight the tax reform."

Robert Willens, tax consultant with Robert Willens LLC agreed with Wilkins that "if we eliminated loopholes and went to a territorial system GE would probably be paying more taxes than it is today."

However, he isn't convinced GE is being disingenuous when it says it want to close loopholes.

"Maybe they do feel that way. That if things were simplified and the rates were lower and we were territorial, there wouldn't be nearly as much need on their part to manage their tax position. They could get on with the business of doing other things," Willens says.

-- Written by Dan Freed in New York. Follow this writer on twitter.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
GE $26.80 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs