Global Digital Solutions Inc (GDSI)

[dogdays]

what is missing from this conversation is the undeniable fact that taxes are owed but how did the taxes arise. Corporate income tax, sales tax and payroll taxes are the 3 major tax liabilities of any corporation.
Corporate income taxes are to be paid based on profits, not losses.
Sales taxes (state and federal) are taxes collected on behalf of the government and are to be remitted. These taxes are collected upon sale of product.
Payroll taxes are deducted from employee wages and are to be remitted to the government. It is cash withheld and usually remitted the following month.

The question that should be asked is if all these funds where collected but not remitted then where oh where did the money go?????Do you think it is coincidental the Bros have not been participating in the legal process? I can assure you BSF, Parabellum and Billy boy have figured out that the Bros don't want their dirty laundry aired out in public.

i provide an earlier post to refresh your memory on how taxes work in case you have forgotten. BTW this was a reply to you post #47917

one obviously has never owned a business and perhaps doesnt understand how taxes work, and i am not faulting anyone for that. it does appear one knows how to google "taxes" and find out there are a variety of different types of taxes to a corporation, some which have been stated are applicable and some not. I will try to limit this in very simplistic terms so one gets the general concept of taxes and how they arise. We will use some of the taxes as stated for illustration purposes. In gdsi case they have many employees which get paid a wage and deducted from that wage are payroll taxes. These are collected by gdsi and supposed to be remitted to the government. if you get paid $10 and the payroll taxes are $3 the employee gets $7 cash the government get $3 cash and gdsi gets to deduct $10 as an expense against revenue. if your revenue is more then $10 you have net income on which you must pay income taxes or if it is less the $10 you have a loss and no taxes are due. so lets assume gdsi sells an item for $15 and the corp tax rate is 30%. therefore gdsi has net income of $5 {15-10=5} and has to remit $1.50 {$5 x 30%} in taxes and leaving them with $3.50 in the bank. Also remember if they sell something they have to charge and collect sales tax from the customer and remit that to the government as well but this doesnt affect the bottom line. GDSI is just acting as an agent for the government. we can go on and on but i think one gets the idea.
What is important to note that all these taxes arise from the ability to be PROFITABLE ie meaning generating $$$$. One does not create a huge tax liability from losing money. Now that one understands how taxes work, one should realize that the money has been collected but magically disappeared, it never got remitted to the government. So again i ask where did the money go, anyone anyone???? Someone like to take a guess???? Last hint, the bros are not wearing sandals made out of tires, living in a favela, having bread and water for dinner.....