Which isn't surprising.twocoach wrote: ↑Wed Oct 21, 2020 7:59 amI hope that's true. And it looks like he has paid more in local Chinese taxes than he has in US federal income taxes. What are those "local taxes" for? Maybe sales tax on the tons of Chinese made products he has bought for his hotels?IllinoisJayhawk wrote: ↑Wed Oct 21, 2020 7:52 amTalk about a "nothing burger"...
Trump International Hotels Management had "opened an account with a Chinese bank having offices in the United States in order to pay the local taxes".
"No deals, transactions or other business activities ever materialised and, since 2015, the office has remained inactive," Mr Garten said.
"Though the bank account remains open, it has never been used for any other purpose," he told the NY Times.
https://www.bbc.com/news/business-54625422
With depreciation expenses, and maybe some section 179 expense deductions, i doubt trump has positive income on his K1s from many of his entities.