The Morning Ledger:will cut the tax bill of Adient by more than a third

The Morning Ledger: Health Insurers Bail on Unprofitable Markets - btbirkett@gmail.com - Gmail



Johnson Controls spin provides tax advantage. WhenJohnson Controls Inc. spins off its big auto-parts business in October, shareholders won’t get the tax breaks they expected. Instead, they receive something that might be even better: a company with a London address and even lower taxes. Johnson Controls recently disclosed in a regulatory filing that the auto-parts company, which will be known as Adient, will be based in London, and shares in the new company �€! œwill be treated as a taxable dividend” for recipients. The deal is expected make it easier for Johnson Controls to relocate the new company to London, and will cut the tax bill of Adient by more than a third.