Quote:
Originally Posted by lamboguy
by becoming Secretary of State and lasting on the job for over a year, Rex saved himself in the range of $65 million in capital gains taxes by divesting his Exxon Stock with this fine opportunity.
when you take a big federal job you are not allowed to own stock in any company so that you are not biased. if you last a year, you don't have to pay any capital gains taxes.
Tillerson lasted a few days more than the year and was very lucky that Trump didn't give him the ax before the year was out.
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It is only a deferral and only if he reinvested in Treasuries. As soon as the treasuries are sold the tax becomes due.
