| Number | 20394 |
| Subject | Taxes |
| Source | Wall Street Journal (New York) |
| State | NY |
| Year | 1997 |
| Publication Date | 11/6/1997 |
| Summary | Michael D. Thomson, a Washington bureaucrat, uncovers a new ploy major corporations are using to generate billions of dollars worth of tax deductions. The maneuver, which is known as "step-down preferred stock," helped corporations elude federal income taxes by increasing the deductibility of loan repayments. |
| Category | General |
| Pages | 1 |
| Keywords | Taxes;loan repayments;corporations |
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