Abbracadrabbra!! - Tech Firms Turn Into Real- Estate Trusts

Companies in technology and related fields are testing a way to avoid paying taxes: persuading the government that their real business is real estate. American Tower Corp. which operates cellphone towers, will save more than $400 million a year by 2017, analysts estimate, thanks to its new tax status as a real-estate investment company.......... Equinix Inc, whose warehouses are full of computer servers, is expected to avoid taxes of around $150 million a year. Iron Mountain which helps clients shred documents and store data, may save nearly as much……The key: getting approval from the Internal Revenue Service to convert from a corporation into a real-estate investment trust, a type of company that generally doesn't pay taxes…..…. Investors typically cheer when companies turn themselves into REITs. But some real-estate executives and analysts worry that the new wave of applicants—including a pair of companies that run private prisons—could spark a political backlash at a time when deficits and taxes are high on Washington's agenda……….... More? Check out http://online.wsj.com/article/SB10000872396390444657804578048880778578720.html?mod=business_newsreel