BK was not foreign owned until recently. They were based in Florida.
Thousands of other companies do just fine in our tax system. Others just want to maximize profits on the backs of U.S. citizens.
BK was not foreign owned until recently. They were based in Florida.
Thousands of other companies do just fine in our tax system. Others just want to maximize profits on the backs of U.S. citizens.
moparman76_69 wrote: In reply to turboswede: What tax is that? I would ASSume that if you don't own property or work in the US you'd have no tax liability. Unless you now have to pay for the joy of being a natural born US citizen.
Canadian snowbirds have to be very careful about the amount of time spent enriching the economy of the southern US, because if they stay down there a day too long, suddenly US taxes can apply to everything. Where this makes a big difference, Is we do not have tax deductible house mortgages, but we also dont have to pay tax on the value of the house when we die...and the way of counting days spent south is not a simple 1,2,3 situation. how many days this year, plus some of last years days, plus some of the year before...Its pretty easy to accidentally spend 190 days in the US in a year when you've only been out of country for 140.
moparman76_69 wrote: Maybe I should revoke my citizenship and live here illegally, seems to work out for some.
They got this one covered, you actually have to be out of the country to renounce. You show up at the local US embassy. So that means you better have the new citizenship already in hand or you is screwed. Not sure what would happen then? But you won't get back in legally without the passport.
Even if a U.S. citizen earns no income that is taxable by the U.S., they still have to file. Failure to file is subject to penalties. I used to work with a guy that had lived in Canada and had dual citizenship. He hadn't filed in over 25 years. He was trying to negotiate his way out of over $20K in penalties.
Cone_Junkie wrote: BK was not foreign owned until recently. They were based in Florida. Thousands of other companies do just fine in our tax system. Others just want to maximize profits on the backs of U.S. citizens.
Sorry, but inasmuch as a corporation can have a nationality in today's world, BK has been a Brazilian company for some time now. The name of the holding company is "3G".
http://business.financialpost.com/2014/08/25/burger-king-tim-hortons-3g/
3G pretty much owns a giant chunk of the food and beverage industry worldwide. These financial entities don't think in terms of loyalties to any country, only to the bottom line. Is that not the direct mandate of a capitalist economy?
That depends on who you ask. Americans are only pro capitalist if it benefits them.
Zomby Woof wrote: That depends on who you ask. Corporations are only pro American if it benefits them.
FTFY
Cone_Junkie wrote:Zomby Woof wrote: That depends on who you ask. Corporations are only pro American if it benefits them.FTFY
Corporations are much like water in that they are pre-disposed to do whatever improves the bottom line. They will always "Flow" to whatever set of circumstances predict the best results, its what they hire and reward their management teams for doing.
In reply to NOHOME:
we are both wrong...
Cone_Junkie wrote: BK was not foreign owned until recently. They were based in Florida. Thousands of other companies do just fine in our tax system. Others just want to maximize profits on the backs of U.S. citizens.
the majority owner is a Brazilian company and yes BK's US headquarters is in FL … but still more than 50% foreign owned
(In late 2010, 3G Capital of Brazil acquired a majority stake in BK in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with partner Berkshire Hathaway, eventually merged the company with Canadian-based donut chain Tim Hortons.)
DC Metro system, pay to get out.
Bobzilla wrote: Why would you renounce your citizenship? Just sounds like a childish "Delete my posts I don't want to be here anymore" thing to me. But what do I know. I WANT to live here.
Income taxes - you owe Federal taxes on money made overseas, even if you never set foot in the US that year. Or ever again.
Interestingly, "renouncing citizenship" is one of the things that denies you the right to a firearm. It's just fine if you're a foreign national, though.
wbjones wrote:Cone_Junkie wrote: BK was not foreign owned until recently. They were based in Florida. Thousands of other companies do just fine in our tax system. Others just want to maximize profits on the backs of U.S. citizens.the majority owner is a Brazilian company and yes BK's US headquarters is in FL … but still more than 50% foreign owned (In late 2010, 3G Capital of Brazil acquired a majority stake in BK in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with partner Berkshire Hathaway, eventually merged the company with Canadian-based donut chain Tim Hortons.)
It was founded in the US, is headquartered in the US, and a majority of the franchises are in the US. I'd say that would make it a US company, especially for tax purposes (which was the point of the post).
most of the companies I listed earlier are/were American companies … with most of their sales in the US …
since the majority of the company is owned by a Brazilian management group … what portion of the taxes are up for US government to grab ?
not trying to be a DB here … really a serious question … Budweiser probably sells the vast majority of their product in this country … what kind of taxes does InBev pay here ?
I was hoping they instituted a new penalty for you smooth talking bastards who shop here to save money then drive back across....
Just triple the tax on milk at Costcos near the northern border.
yamaha wrote: I was hoping they instituted a new penalty for you smooth talking bastards who shop here to save money then drive back across....
Well, you HAVE pretty much put one of these in every Border crossing booth, so its not like you aren't trying! The Canadian retail merchants do appreciate it though.
Cone_Junkie wrote: Just triple the tax on milk at Costcos near the northern border.
Cheese. My wife's friends go on cheese runs across the border, and when we go, she stocks up on it, too. The price difference is ridiculous.
We (me and my smooth talking wife) are planning a cross border trip soon, we'll stay two days to max out or exemption, and probably drop $1200-$1500, doing our part for the American economy
There used to be lots of Americans crossing the northern border for medicine and such so I'd say it's an even trade.
In reply to The_Jed:
I've heard Viagra is expensive in the US.
The_Jed wrote: There used to be lots of Americans crossing the northern border for medicine and such so I'd say it's an even trade.
But then y'all went and legalized stuff in Colorado and ruined it for everyone here. Guess its back to Polar Bear harvesting in Toronto!
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