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How the New Tax Rule Is Affecting Verizon

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.