The top fiscal cliff tax dodgers

These company founders and heirs could collectively dodge more than $1 billion in post fiscal cliff taxes because of special dividends and a company sale.

Tax dodgers
gallery fiscal cliff tax dodgers

While lawmakers in Washington continue to wrangle over what taxes will be raised in 2013, investors and corporations have been making swift moves to avoid the expected increases in 2013.

Two types of taxes could be significantly higher in 2013: capital gains taxes (on sales of stock or a company) and dividend taxes.

For the wealthiest Americans, capital gains taxes could rise to 23.8% from 15%, while dividend taxes could rise to 43.4% from the current 15% rate.

To find those who stand to save the most on taxes this year, we looked at corporations where an individual or a family held a large concentration of outstanding shares. We then calculated the estimated tax rate this year and compared it to what these individuals or families might pay if taxes bumped up to the highest level in 2013.

The five individuals or families highlighted here might have avoided more than $1 billion in taxes thanks to their moves this year.


Source: Getty
  @maureenmfarrell - Last updated December 21 2012 10:54 AM ET
Join the Conversation
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.