Lawmakers Target Wal-Mart Real Estate Taxes

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Denver (AP) Colorado lawmakers say and other large corporations are evading taxes on real estate profits.

They unveiled a bill Tuesday that would require companies to declare questionable transactions on their corporate tax returns.

A new federal tax law allows small investors to pool their resources to participate in real estate markets that otherwise would require large amounts of capital, providing tax breaks. Lawmakers say Wal-Mart is evading taxes by owning a majority of the
investment trust.

Daphne Moore, corporate communications director for Wal-Mart, said they are lawful arrangements and they have been known to state departments of revenue for many years.