[Click screenshot for glimpse of more than 80 subsidiaries]
Several readers ask why their just-received W-2 form shows an unexpected name in the "employer" box. An Indianapolis Star worker, for instance, says the name on their form is Pacific and Southern Co. Inc. (No; not the railroad!) Here's what I think's going on:
Gannett is a holding company with more than 80 incorporated subsidiaries, according to its last annual report -- from 101 Inc., a business incorporated in Hawaii, to X.com in Delaware. Many of these subsidiaries were the original owners of newspapers and TV stations Gannett bought over the years. For convenience, accounting, tax purposes or some other reason, the names were left untouched.
When I worked for Gannett's Boise newspaper, for example, my W-2s showed my employer as Federated Publications; that subsidiary remains on the list, which you can view toward the bottom of the annual report, called a 10-K document. It's included among the U.S. Securities and Exchange Commission filings on the investor relations section of Corporate's homepage.
Related: A reader asks, 'Got your W-2 form yet?'
yeah, but pacific southern never owned the indy star. after central newspapers sold to gannett, our little chunk of the empire was known as "indiana newspapers inc.," and all previous gannett-era w-2s bore that name. i was "laid off" in '08, and had several weeks' severance in '09. it's that '09 severance period in which i supposedly was employed by pacific southern. do i just use what the w-2 says on my tax form, or do i try to get it corrected? i should be getting a refund, and i need the $, so i don't want needless delays because of weird w-2s.
ReplyDeleteWhat happened to River States Publishing? That's what showed up on my forms a few years ago.
ReplyDelete9:54 pm: It's possible that The Indianapolis Star's ownership was transferred to Pacific Southern after it was bought with along with the rest of Central Newspapers; see my comment, below.
ReplyDeleteAs to whether you should get a correct W-2: Do the dollar amounts appear to be correct? Is there anything like a Social Security number confirming that this is your form? I'm not a tax professional. If you remain concerned, I would suggest contacting Gannett H.R., or talk to an accountant.
11:43 am: Gannett River States Publishing Corp., incorporated in Arkansas, remains on the list. As I recall, the Arkansas Gazette's ownership was moved into that company not long before Gannett shut down the paper in 1991.
Jim, the screenshot only shows 20 subsidiaries, not "more than 80."
ReplyDeleteMy caption wasn't clear enough; by glimpse, I meant a sample of the 80-plus. This is just the first page, which is why you see them in alpha order.
ReplyDeleteI'm curious how many of these 80 subsidiaries are no longer active entities, like Children's Edition, which was the Courier-Journal's employee day care center that was shut down 8-9 years ago in a cost-cutting move. The Kentucky Secretary of State's website says it was dissolved in 2003 after not filing an annual report the year before.
ReplyDelete