The Sorry State of Corporate Taxes
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NEW REPORT: Many of America’s Most Profitable Corporations Pay Little or No Federal Income Taxes; Multinationals Pay Higher Rates Abroad Than in the U.S.
“Corporate lobbyists incessantly claim that our corporate tax rate is too high, and that it’s not ‘competitive’ with the rest of the world,” said Robert McIntyre, Director of Citizens for Tax Justice and the report’s lead author. “Our new report shows that both of these claims are false. Most of the biggest companies aren’t paying anywhere near 35 percent of their profits in taxes and far too many aren’t paying U.S. taxes at all. Most multinationals are paying lower tax rates here in the United States than they pay on their foreign operations.”
The Hill: Corporations pay fraction of top tax rate - Feb 26, 2014
The Huffington Post: These 26 Companies Pay No Federal Income Tax - Feb 26, 2014
Politico: Report Finds Average Fortune 500 Corporation Pay 19.4 Percent - Feb 26, 2014
Reuters: Many big U.S. corporations pay very little in taxes - Feb 25, 2014
San Francisco Chronicle: Wells Fargo gets big break in federal income taxes - February 25, 2014
Democrat & Chronicle: Verizon, Corning paid no US income taxes, study says - February 25, 2014
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