Donald Trump could have avoided incurring tax liabilities for 18 years
Donald Trump could have avoided incurring tax liabilities for 18 years because of business losses in 1995, it has emerged.
According to records obtained by The New York Times, his losses were so large they could have allowed him to avoid paying income taxes for as many as three years of prior and 15 years of future profits.
The newspaper said it anonymously received the first pages of Mr Trump's 1995 state income tax filings in New York, New Jersey and Connecticut.
They show a net loss of 915,729,293 dollars in federal taxable income for the year.
That Mr Trump was losing money during the early to mid-1990s - a period marked by bankruptcies and poor business decisions - was already well established.
But the records obtained by the New York Times show losses of such a magnitude that they potentially allowed him to avoid paying taxes for years, possibly until the end of the last decade.
Mr Trump's campaign lashed out at the newspaper for publishing the records and accused the newspaper of working to benefit the Republican nominee's presidential rival, Democrat Hillary Clinton.
"The New York Times, like establishment media in general, is an extension of the Clinton campaign, the Democratic Party and their global special interests," the campaign said.
It called Mr Trump "a highly skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required".
The campaign said Mr Trump had paid "hundreds of millions" of dollars in other kinds of taxes over the years.
Mrs Clinton's campaign manager, Robby Mook said "this bombshell report reveals the colossal nature of Donald Trump's past business failures and just how long he may have avoided paying any federal income taxes whatsoever".