Wealthy? Want to join the Trump administration? There's a tax break for you [Yahoo! Finance]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
conocophillips.com/investor-relations/investor-presentations
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Source: Yahoo! Finance
There's an arcane provision in the tax code that allows people who join the federal government to sell stock and other assets and put off paying the capital gains tax they'd owe. That could be lucrative perk for Trump backers like Scott Bessent, a hedge fund manager now in the running to become the president-elect's Treasury Secretary. The break is designed to help take the sting out of having to comply with federal ethics laws that can require appointees to sell off assets when they would pose a conflict of interest. In order to qualify, they have to put the proceeds from those sales into government-approved investment vehicles like index funds, and that may not appeal to everyone. Last week, billionaire investor John Paulson bowed out of the running to head up Treasury, pointing to his financial portfolio. It also appears that Elon Musk, the world's wealthiest person, who looked to be joining the administration, won't qualify for the break after Trump named him to an outsid
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News
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COP
Earnings
- 10/31/24 - Beat
COP
Sec Filings
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- 10/31/24 - Form 10-Q
- COP's page on the SEC website