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Just before lunch break, CEO Warren Buffett said that a new 1% tax on shares rewards makes Berkshire more expensive to buy their own shares than for other investors.
Former President Joe Biden’s inflation law introduced a special tax of 1% in the purchases of shares carried out after December 31, 2022, although the IRS delayed the deadlines for informing and paying the tax until last year. Part of the tax reason was to reduce the historical advantage of versus rewards to pay dividends, which are imposed on individual taxpayers.
For Berkshire, Buffett said, the tax in effect increases the bar when it makes sense for the company to buy its own shares. It has a great effect on companies in which Bershire invest, like Apple, who also buys many shares.
