You can now read 10 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe


To cut taxes, companies turn to trusts

Those claiming to be real estate firms include prison and casino operators

NEW YORK — A small but growing number of US corporations, operating in businesses as diverse as private prisons, billboards, and casinos, are making a forehead-slapping move to reduce — or even eliminate — their federal tax bills.

They are declaring they are not ordinary corporations. Instead, they say, they are special trusts that are typically exempt from paying federal taxes.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week