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Thread: Wnder how Americans get tax

  1. #1
    Join Date
    Jun 2013
    Posts
    4,753

    Wnder how Americans get tax

    relief using losses generated by Scottish football clubs? How does the system work. US profits 5m, tax at 20% means tax bill is 1m. Scottish football team loss say 1m. Does that mean the net profits are calculated at 4m and therefore tax bill is 20% of 4m or 800k.
    It doesn't seem a great deal of benefit to save 200k.
    Surely they can't use a 1m loss in Scotland to wipe out a 1m tax bill in the US? I have expressed everything in sterling to keep it simple.

  2. #2
    Join Date
    Feb 2012
    Posts
    17,596
    Quote Originally Posted by BCram View Post
    relief using losses generated by Scottish football clubs? How does the system work. US profits 5m, tax at 20% means tax bill is 1m. Scottish football team loss say 1m. Does that mean the net profits are calculated at 4m and therefore tax bill is 20% of 4m or 800k.
    It doesn't seem a great deal of benefit to save 200k.
    Surely they can't use a 1m loss in Scotland to wipe out a 1m tax bill in the US? I have expressed everything in sterling to keep it simple.
    No idea.

  3. #3
    Join Date
    Jan 2014
    Posts
    6,550
    I remember someone stating at a Dee4life AGM that American companies can have a 100% tax write off of profits they make from sports companies then own.
    However if this is correct then it no use to Tim Keyes as apart from the year ending 31st May 2021 Dundee Football Club Limited have made a loss every financial year after FPS purchased a majority shareholding in Dundee Football Club Limited.

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