While nobody wants to pay taxes, if you happen to be someone who pays millions of dollars in taxes every year, you would probably like to have that recognized.
On Thursday, Dec. 14, the Rhino Times published an article, “County’s Top 10 Taxpayers Make Your Tax Bill Look Cheap.”
The list of the top 10 property taxpayers in Guilford County, from the annual Guilford County audit, left the number two property taxpayer in Guilford County off the list.
It just so happens that following Duke Energy, which owns $709 million worth of property in Guilford County, is The Carroll Companies. The Rhino Times is one of the companies that makes up The Carroll Companies, although the Rhino Times doesn’t account for much of the over $445 million in property that The Carroll Companies owns.
However, that $445 million in property places The Carroll Companies solidly in the number two position on the list of top taxpayers in Guilford County, above Lincoln National Life Insurance at $414 million in assessed value.
The reason The Carroll Companies was not even on the list of the top property owners in Guilford County, which went down to the International Home Furnishings Center at $171 million, is because, as the name indicates, The Carroll Companies is made up of a number of different corporations. To the Guilford County Tax Department, each of those separate corporations is a distinct taxpaying entity, so when you divide The Carroll Companies up into its many corporations, none of those individual corporations paid taxes on enough property to be on the list of the top 10.
However, all of the different corporations that make up The Carroll Companies are run by Founder, President and CEO of The Carroll Companies Roy Carroll. That means that Carroll is signing all of those checks to the Guilford County Tax Department and is well aware of the tax bill, not just for the individual companies but for The Carroll Companies as a whole.
So, while nobody wants to pay taxes, if you do pay millions in property taxes every year, as Carroll does, you’d hate to be left off the list of the top taxpayers in Guilford County – particularly by a publication you own.
Thank you, Roy!
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Three Cheers for the REAL heroes in our society.
Not the educators who turn out the worst educated children in the Western World, while working 9 months a year.
Not the bureaucrats who luxuriate in pretend jobs, and are paid obscene salaries ($6,000 a week for Tai !).
Not our “leaders”, who are really just jobless busybodies who are closet narcissists and closet control freaks.
Not the armies of regulators, who delight in their pettifoggery and tin badged authority – and certainly not the Army of 87,000 new IRS Agents whose mission it will be to harass and shake down business owners and entrepreneurs like Roy Carroll.
No, the REAL heroes are the guys like Carroll, who pay for the schools, the roads, law enforcement, and facilitate everything else, by virtue of their work and application.
There’s a name for such heroes.
They’re called Capitalists.
I wish I had said that. Mr. Carroll is an example of how we still have an opportunity to excel through our own efforts.
The Leftists want to take away these opportunities, so the we will all be beholding to the Government.
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Miller is dead right.
The insane cabal of power hungry megalomaniacs who call themselves the World Economic Forum are attempting to impose a new world order of global serfdom. We shall be permitted only to work and live within de facto concentration camps (they’re calling them “15 Minute Cities”).
It all begins by taking our mobility. That’s why they’re waging a war on the private automobile. Notice how the Left is making driving as costly, aggravating, time consuming, slow, and difficult as they can.
We need to fight this – or we will all be subjugated in the end.
Boy the tinfoil hat slipped hard right on you with this comment.
The U.K. is losing this battle. So are ANZAC & Canada. Our Republic (if we can keep it), may be our last chance.
is ‘kotis companies’ on this list ?
Did you see it on the list
no. why not? touch a nerve ?
No, what you revealed is that corporations can break up into smaller entities to avoid paying more taxes.
Hammer, what is Roy paying you to constantly be licking his heel
You are indeed a Comrade!
You’d be more at home in the USSR. Oh, wait….
Hi Comrade
Apparently you haven’t spent much time working on corporate income tax returns. I have.
Breaking up a corporation into smaller entities doesn’t save income tax. The corporate rate has been a flat 21% since 2017. It does increase the fees your have to pay to the CPA firm preparing the separate tax returns, instead of just one!
The real reason an owner of real estate will have several corporations is due to legal liability. If you own six different buildings, you generally have one corporation for each building. If there is a problem with one building, say an elevator accident in one building causes some injuries. If the claim is more than your insurance will cover, the assets of the corporation could be taken to pay the claim. You don’t want to risk your five other buildings. This is a standard practice by anyone in business, no matter if they are someone you admire or despise.
So, do a little research before accusing someone of tax dodging.
A dash of cold water. Think, before you open your mouth and change feet.