How the New Tax Rule Is Affecting Verizon
Verizon (VZ), America’s biggest carrier, said that the new tax code signed by President Donald Trump late last year would lead to a one-time reduction of its deferred tax liability. The new tax law saw corporate tax rates slashed from 35% to 21%. The company has $48.3 billion in deferred tax liabilities that will be reduced due to the lower corporate income tax rate.