Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B | TigerDroppings.com

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rickgrimes
LSU Fan
Member since Jan 2011
2999 posts

Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


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He will be taxed only at 15% assuming long term capital gains, right, which is a lower rate than what ppl on this board would typically pay on their income? Can someone work out what his total tax burden would be on the $2.5B? Come Monday, I need remind myself to ask my boss if I could opt to get paid in stock options instead of cash.... then again I couldn't survive on a $1 yearly salary, so there goes that.



This post was edited on 2/9 at 4:02 am



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LSU Fan
The Woodlands, TX
Member since Dec 2007
21005 posts

re: Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


Wouldn't giving you stocks be just like regular income? He is paying capital gains because he already paid taxes on the money he used to invest in google. And google has been paying taxes for quite a while now on their earnings so the 15% is a bit misleading... But I figure the post is more about jealousy and fairness and not really suited for the money talk lard. Probably the OT or politely would garner better conversation.





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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


If I were him, I'd puke everytime I heard Obama say "pay their fair share." I'm not a rich guy and will never be, but that pisses me off.

I think billions of dollars is a fair share.






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NC_Tigah
LSU Fan
Member since Sep 2003
50205 posts

re: Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


quote:

He will be taxed only at 15% assuming long term capital gains, right
Nope. 23.8%.






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BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8751 posts

re: Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


Plus California State Taxes, right?





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NC_Tigah
LSU Fan
Member since Sep 2003
50205 posts

re: Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


quote:

Plus California State Taxes, right?
If he's stupid enough to not have established a Texas or Florida residence






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BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8751 posts

re: Eric Schmidt will sell nearly half his Google stock for an estimated $2.51B


Yeah..perhaps..but I think he derives most of his income from California and that's where he "earned" the stock options. So I'm not sure he would be immune to Cali taxes.





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