Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Unreported corporate income, & off shore tax havens cost the government how much a year?

Corporations exaggerate their income to shareholders; than report the corps income far less on their taxes

7 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    billions in lost tax revenue, to be sure. How much is anybody's guess. Good point.

  • 1 decade ago

    A Senate report estimated in 2008 that the United States loses up to $100 billion a year in tax revenue to offshore tax havens.

    Here's a recent state-by-state listing of how much of each state's lost tax revenue is shifted to taxpayers:

    http://www.huffingtonpost.com/thenewswire/archive/...

    Edit: Merlin, $80 million? More like $11 billion for California.

  • Anonymous
    1 decade ago

    If it's unreported, how do we know how much is being hidden since it's, well, unreported?

    Any number applied to this is nothing more than a guess. It might be an educated guess, but it's still a guess.

  • 1 decade ago

    Look, being rich means being able to hide your money in a safe place. Governments not being able to provide services to the poor and middle class is not a problem for the rich.

    We want the government weak otherwise they try to hold you accountable to laws that interfere with making money.

  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    1 decade ago

    How would you be so knowledge of any corporation and their claims? Give me one valid source.

  • Anonymous
    1 decade ago

    It costs California $80,000,000 a year...... 80 million.

  • Anonymous
    1 decade ago

    We don't really have the figures. It would be a great deal of money.

Still have questions? Get your answers by asking now.