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I'm sure TLG got a healthy tax reduction for that donation!
The negative response in here to a good thing is rather baffling.
I would like to know what companies give the most by percentage of annual revenue? Microsoft claims that they give about $2 million a day. Their annual revenue is around 90 billion US doolars.
It would also be interesting to to see what people would give if their weren't any tax breaks.
The Foundation however is 25% owner of TLG, with the other 75% held by KIRKBI A/S, the Kristiansen's family office. TLG pays out a large part of their profits to both as dividends - DKK 7B for 2017.
Even though TLG, the Foundation and KIRKBI are all privately held, all 3 publish their annual statements online (in English). This includes how much tax they pay: TLG paid corporate income tax of DKK 2.4B for 2017, supposedly an effective tax rate of 23.5%. With Danish corporate tax set at 22%, they don't seem to go out of their way to underpay.
KIRKBI reports paying corporate taxes of DKK 3.365B, however as they consolidate TLG's numbers on their balance sheet, I assume this already includes what TLG paid. (Disclaimer: I'm not an accountant)
Not sure as to why this is now news. The Brick Fan has finally discovered the Foundations website, and looked at their press releases? The Foundation doesn't seem to have made a bigger deal out of this than any of their other activities. With the Sesame Workshop award paid out over 5 years, the yearly grant should not have a big impact to the total amount the Foundation distributes; probably will just be in line with the annual increase of grant activities over the past 5 years.
If the taxation system in Denmark is anything like the US, there would be additional income tax on the reciepients of the dividends. There would also be no tax on the distribution to the Foundation. I would posit this is why the Foundation owns 25% of TLG. Individual dividend reciepients would also be able to utilize philantropic deductions to lower their income tax liability.
I'm also not an accountant, so take my additional comments for what they're worth.
The day that this news came out I texted a few of my friends and I was wondering more if we would be getting Seasame Street sets and/or Minifigures???
Maybe with some labor standards and less dictatorial communism, then they would benefit.
I know that MegaBloks have the license now, but why is it out of the question that Lego get the license? Both companies have interchanged licenses over the years so...
That said, it's sort of inaccurate to say Lego "stole" the "Blizzard" license because despite the company licensing with Mega Bloks and then Lego, the licenses in question were for two different IPs. Just because they're owned by the same company doesn't mean that company can't pick and choose licensing partners brand-by-brand. Just as an example, Microsoft currently owns both Mojang (the developer of Minecraft) and 343 Industries (the current developer of the Halo series), yet licenses the former to Lego and the latter to Mega Bloks.
That's a misconception I often see come up when the discussion of a possible Nintendo-licensed Lego theme. While K'nex currently has the license to produce Mario and Mario Kart themed sets, that license presumably doesn't necessarily grant K'nex exclusive access to Nintendo's other franchises.