Tax Treatment of Corporations
and Partnerships
Accounting
383
ETHICS
RESEARCH PAPER
Facts: The Carnival Corporation wouldn’t have
much of a business without help from various branches of the government. The
United States Coast Guard keeps the seas safe for Carnival’s cruise ships.
Customs officers make it possible for Carnival cruises to travel to other
countries. State and local governments have built roads and bridges leading up
to the ports where Carnival’s ships dock.
But
Carnival’s biggest government benefit of all may be the price it pays for many
of those services. Over the last five years, the company has paid total
corporate taxes — federal, state, local and foreign — equal to only 1.1 percent
of its cumulative $11.3 billion in profits. Thanks to an obscure loophole in
the tax code, Carnival can legally avoid most taxes.
Assignment: Research the reason why Carnival paid hardly any US
taxes. Was there anything that Carnival did that would be considered an
unethical tax practice?
The body of the paper is to be 3 pages, not counting Title Page and
Bibliography. Footnotes are to be
included at the end of the paper. One
inch margins at top, bottom, and each side.
Use an approximate 10 or 12 pitch (12 or 10 point) type and double space
the paper. Make sure the pages are numbered beginning with the body of the
paper as page 1.
Your research should include
finding articles written on the topic. You
must use at least two separate reference sources.
[Show Less]