Carnival Cruises is headquartered in Miami. They register their ships in other countries for various reasons. One of which is taxes. But the company itself is based in the US.
Carnival Corp and Norwegian both posted negative income tax expenses — that is, they received more in refunds or deductions than they paid or set aside for taxes — with Carnival reporting an income tax expense of $71 million and Norwegian reporting an $18.9 million tax benefit.
They don’t contribute to the public fisc in good times, they should have no call on it when times are tough.
> In general, under Section 883 of the Internal Revenue Code, certain non-U.S. corporations (such as our North American
cruise ship businesses) are not subject to U.S. federal income tax or branch profits tax on U.S. source income derived from,
or incidental to, the international operation of a ship or ships
Carnival Corp and Norwegian both posted negative income tax expenses — that is, they received more in refunds or deductions than they paid or set aside for taxes — with Carnival reporting an income tax expense of $71 million and Norwegian reporting an $18.9 million tax benefit.
They don’t contribute to the public fisc in good times, they should have no call on it when times are tough.