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0 pointsjasode10mo ago0 comments

>uncollected tax revenues for economically valuable activity.

Taxes are on profits not revenue. The for-profit OpenAI LLC subsidiary created in 2019 would have been the entity that owes taxes but it has been losing money and never made any profits to tax.

Yesterday's news about switching from for-profit LLC to for-profit PBC still leaves a business entity that's liable for future taxes on profits.

0 comments

philipodonnell10mo ago

The contributors to the charity get a write off too

j / k navigate · click thread line to collapse

0 pointsjasode10mo ago0 comments

>uncollected tax revenues for economically valuable activity.

Taxes are on profits not revenue. The for-profit OpenAI LLC subsidiary created in 2019 would have been the entity that owes taxes but it has been losing money and never made any profits to tax.

Yesterday's news about switching from for-profit LLC to for-profit PBC still leaves a business entity that's liable for future taxes on profits.

0 comments

philipodonnell10mo ago

The contributors to the charity get a write off too

j / k navigate · click thread line to collapse