Report: 280 Most Profitable U.S. Corporations Shelter Half Their Profits from Taxes; Thirty Companies Paid Less Than Zero in Taxes In The Last Three Years
Citizens for Tax Justice and the Institute on Taxation and Economic Policy Release “Corporate Taxpayers and Corporate Tax Dodgers, 2008-2010”
Washington, DC – A comprehensive new study that profiles 280 of America’s most profitable companies finds that 78 of them paid no federal income tax in at least one of the last three years. Thirty companies enjoyed a negative income tax rate over the three year period, despite combined pre-tax profits of $160 billion.