] Geoffrey Inc. is a subsidiary owned by Toys "R" Us.
] Geoffrey owns various trademarks and rights including the
] giraffe character, and Toys "R" Us stores pay royalties
] to Geoffrey. Because those royalties are business
] expenses, they are claimed as deductions that escape
] Louisiana taxation. Geoffrey pays no state taxes because
] it is incorporated in Delaware.
This would be hillarious if it wasn't an example of the ethics of the management of our publically traded companies...
Toy's R US pays itself for mascot to avoid taxation