(Original Post)
WASHINGTON -- Pepco tops a list of 30 major companies paying no income taxes from 2008 to 2010.
According to a report from Citizens for Tax Justice and the Institute on Taxation, the utility company had the lowest effective tax rate in the nation: negative 57.6 percent.
Pepco said in a statement that it pays all required taxes and follows the rules on tax requirements.
The report also lists General Electric Co., PG&E and Boeing as non-taxpayers.
Reuters reports that the statutory corporate income tax is 35 percent, but very few companies in the study paid it during the three-year period.