Whirlpool spins 64 million tax benefit and 3 years with no federal taxes
Linkedin

Whirlpool spins 64 million tax benefit and 3 years with no federal taxes

Benton Harbor : MI : USA | May 11, 2011 at 8:46 PM PDT
XX XX
Views: Pending
 
Don Benton responds on Taxes and Bush Tax Cuts, April 21, 2010

Bloomberg news reports the Whirlpool the world's largest apppliance producer has paid no federal income taxes for the last three years. Even though the company reported 18 billion in sales last year it ended up with a 64 million tax benefit from the U.S. federal government.

Whirlpool's headquarters are in the city of Benton Harbor, Michigan, where the city's elected mayor and city commissioners were recently stripped of all power by an unelected emergency financial manager appointed by Michigan Gov. Rick Snyder. Perhaps the city could borrow a few buck from Whirlpool.

Whirlpool expects a similar tax benefit in 2011, corporate controller Larry Venturelli told analysts. Whirlpool is celebrating its 100th anniversary this year. Meanwhile the U.S. government is struggling to find some way to reduce its deficit and/or allow for higher debt levels.

1 of 1
Whirlpool
Whirlpool has paid no federal taxes for the last 3 years.
northsunm32 is based in Brandon, Manitoba, Canada, and is an Anchor on Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • Michigan Town Bristles Under Appointed Manager

      National Public Radio
    May 11, 2011 Michigan is increasingly using what some consider a drastic method for dealing with cash-strapped cities. New laws give emergency financial managers the authority to fire local government officials...A year ago, former Gov. Jennifer...
  • Michigan town's woes sign of tough choices to come

      Mail and Guardian
    Either way you look at it, this Michigan city is on the front line -- either it is a harbinger of battles to come over budget cuts across America or a new chapter in the struggle for civil rights. Analysts of the unsettled United States (US)...
  • Michigan town's woes a sign of tough choices to come

      Reuters
    Stocks In this file photot Rodney Dyson watches as a bulldozer buries his parents still smoldering burned house June 18, 2003 in Benton Harbor, Michigan. Either way you look at it, this Michigan city is on the front line -- either it is a harbinger...
  • Michigan Passes New Tax Plan

      Asian Wall Street Journal
    Thursday passed a broad new tax structure ending a raft of tax credits, replacing the state's complex business tax with a flat corporate tax, while imposing a new pension tax and raising income taxes on residents. The tax plancentral to Gov. Rick...
  • Michigan drops business tax, hikes others

      United Press International
    With no votes to spare, the Michigan Legislature has cleared a $2 billion tax break for businesses and hikes for individuals. The overhaul includes new taxes on pensions and the abolition of the child tax credit and other breaks for individuals, The...

Images

 >
 
  •  Whirlpool has paid no federal taxes for the last 3 years.

    Whirlpool

More From Allvoices

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.