Impact Of The Margin Tax On Belo
It is interesting to me to note that Belo, owners of the Dallas Morning News and other newspapers, television and radio stations across Texas, has announced that the replacement of the franchise tax with the margin tax has actually resulted in an “adjustment” for that company in a recent press release:
* An adjustment of $3.8 million, or $0.04 per share, related to the Texas Legislature’s enactment of a new margin tax to replace the previous franchise tax.
I’m not a stock market whiz, but absent the words “negative” in the above statement, I read this to say that Belo actually saves money (i.e., pays less taxes) under the new system.
Any financial/tax/stock whizzes out there care to offer a different evaluation in the comments?
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