GE Responds to Questions About Corporate Tax Policy
General Electric issued the following statement regarding astory in the New York Timesthat looked at its corporate tax strategies:
"'The New York Times' story on GE's tax liability misses the biggest part of the story, which is the implications of the financial crisis," the company said. "Significant losses at GE capital are not a 'tax avoidance' strategy. Taking out GE Capital actually makes GE's effective tax rate 21% over the past several years."
GE owns a 49-percent stake in NBC Universal, the parent of CNBC and CNBC.com. 'The New York Times' and CNBC.com have a content partnership.