Report: GM to get massive tax advantage in bankruptcy:

05/29/2009 |

Now that GM has filed for bankruptcy, the portion of its losses it can use to offset taxable income will be limitless, according to a report released Thursday by Robert Willens LLC, a tax consultancy. That's because even as the U.S. government takes a majority stake in GM, it would not create a change in ownership, which would enact limits.

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