boberic wrote:
I am not a CPA but they are called INCOME taxes. Has nothing to do with debt, or net worth. If you have a net worth of minus 4 billion but have an income of 50,000 $ you are taxed in tyhat 50 grand. Conversely. If you have a net worth of 10,billion but have an income ,in the year in question, of 100 dollars you pay no income taxes.
Corporate income tax returns require a balance sheet. Balance sheets show assets, liabilities , and the different between them called capital or net worth. If bone spur had any net worth he wouldn’t be so scared to show his tax returns!