Merrill Books Losses Through U.K., Can Offset Taxes ($29 billion)

[Sapiens]

http://www.bloomberg.com/apps/news?p...qo8&refer=home

Merrill Books Losses Through U.K., Can Offset Taxes (Update3)

By Zachary R. Mider and Cathy Chan

Aug. 15 (Bloomberg) -- Merrill Lynch & Co. booked $29 billion of losses from U.S. subprime mortgages and collateralized debt obligations through its U.K. unit, reducing the likelihood the firm will pay British taxes for years to come.

The division, Merrill Lynch International Ltd., recorded most of the losses this year, including $5 billion from the sale of $30.6 billion in collateralized debt obligations, the New York-based firm said in an Aug. 5 filing with the U.S. Securities and Exchange Commission.

...

``The loss has an unlimited carry forward period and a tax benefit,'' the filing said.

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[Mega]

Re: Merrill Books Losses Through U.K., Can Offset Taxes ($29 billion)

They be GONE in 2-3 years!
Mike

[GRG55]

Re: Merrill Books Losses Through U.K., Can Offset Taxes ($29 billion)

They be GONE in 2-3 years!
Mike

Perhaps it will be "gone", but not its tax loss.

Could be the tax loss account turns out to be the most valuable asset for whomever acquires what is ultimately left of Merrill. ;)

[phirang]

Re: Merrill Books Losses Through U.K., Can Offset Taxes ($29 billion)

Perhaps it will be "gone", but not its tax loss.

Could be the tax loss account turns out to be the most valuable asset for whomever acquires what is ultimately left of Merrill. ;)

Gee... reminds me of a certain utility I interned for...:rolleyes: