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If the deal was done exactly the same way, but for cash rather than stock, the tax liability would be mammoth, gains would be taxed at capital gain rates which, for a New York resident, amounts to about 30 percent.
Found on Reuters 6 years ago
It is not advisable for a man of Murdoch's age to engage in a taxable sale of his property, if he passed away while still owning the property, his heirs would achieve a basis step-up for the property, thus eliminating, forever, any capital gains tax on the appreciation in the assets that accrued during the scions' lifetime.
Found on Reuters 6 years ago
The deferred tax assets would be quite a dramatic advantage.
Found on Reuters 9 years ago
You anticipate the future losses and take it all in one year because the market will ignore that sort of thing, ongoing losses will not be ignored.
Found on Reuters 9 years ago
You're taking a large charge anyway so you might as well take the maximum.
Found on Reuters 9 years ago
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