You are here: Fairness.com > Resources > Tax Shelters Are a Boon To Agencies...

Tax Shelters Are a Boon To Agencies: Senate Panel Told of Lucrative Lease Deals

Date: October 22, 2003
Author: Albert B. Crenshaw
QUOTE: "It's hard to believe that city assets are helping tax shelter promoters. Roads and bridges built with tax dollars are leased out to shelter promoters so major corporations can get a phony tax deduction..."

ABSTRACT: A Senate hearing revealed that budget-strapped state and local governments are earning money by entering into sham sale+leaseback transactions with private corporations; though those governments benefit, such abusive tax shelters help the private companies avoid billions in taxes to other levels of government.

--- John Tillotson

Article MetaInformation:

Key People:
Key Organizations:
Subject & Geographic Categories:

Comments:

none
*User comments are posted without Fairness.com LLC's prior review or approval, and Fairness.com LLC takes no responsibility for them; please see our Conditions of Service Agreement.