New Tax Makes It Less Likely Berkshire Will Buy Back Shares
Immediately before lunch break, CEO Warren Buffett mentioned that Share Buybacks make a new 1% tax on Berkshire to buy their shares.
Former President Joe Biden’s inflation act invested 1% excise tax, which took place on December 31 2022, although the IRS delayed the terms of the tax until the timeframe last year. Part of the basis of taxes has been the historical advantage of Buybacks against the paying dividends, which are taxed on individual taxpayers.
Buffett said for Berkshire. It has a great impact on companies that invest in Berkshire, like Apple, which also goes into large quantities.
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