RewriteEngine On News reports last week that Malones company was about to buy 1,004,346 acres of the Maine woods raised concerns among environmentalists and outdoor enthusiasts about his plans for the land, which has long served as working forest and recreational and hunting grounds. As the Obama administration attempts to implement anti-inversion rules announced in September, Libertys strategies illustrate how billionaires and their companies find their way around tax regulations, and take advantage of unintended consequences. You may get a 404 error for images because you have Hot Link Protection turned on and the domain is not on the list of authorized domains. Malone: I would hate to see forestry banned. Liberty Global turned a provision that was supposed to be punitive into something they used for their benefit, said Willens, the independent accounting analyst. He was your forestry commissioner for several decades. But at least I tried. (adsbygoogle = window.adsbygoogle || []).push({}); Copyright 2023 - All right reserved. Malone: Interest rates are very low so long term assets can be financed with low-cost money. Such trusts permit wealthy individuals to use the tax-exempt status of a charity to shelter income. In 2011, he donated $30 million to Johns Hopkins University for the construction of a 56,000 square foot research building for the engineering school. Its really the only buffer between the two metros. Earnings stripping is considered the most common way for inverted companies to cut their taxes. 1. Its a commodity-based asset, a hard asset, an asset that could see a tailwind if in fact the U.S. construction industry comes back. He also took precautions to avoid the capital-gains hit that the so-called inversion would trigger for him and other investors. If it does, the transaction is not taxable for the investors under the anti-inversion rules, said Bret Wells, a tax law professor at the University of Houston.
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