Monday, November 7, 2011

Corporate Taxpayers & Corporate Tax Dodgers, 2008-2010 / Citizens for Tax Justice

Corporate Taxpayers & Corporate Tax Dodgers, 2008-2010

NEW REPORT: 280 Most Profitable U.S. Corporations Shelter Half Their Profits from Taxes.
“These 280 corporations received a total of nearly $224 billion in tax subsidies,” said Robert McIntyre, Director at Citizens for Tax Justice and the report’s lead author. “This is wasted money that could have gone to protect Medicare, create jobs and cut the deficit.”
  • 30 Companies average less than zero tax bill in the last three Years, 78 had at least one no-tax year.
  • Financial services received the largest share of all federal tax subsidies over the last three years. More than half the tax subsidies for companies in the study went to four industries: financial services, utilities, telecommunications, and oil, gas & pipelines.
  • U.S. corporations with significant foreign profits paid tax rates to foreign countries that were almost a third higher than they paid to the IRS on their domestic profits.

Media Coverage:

CNN: Many big firms pay zero corporate tax (Video)

MSNBC Al Sharpton: Corporations Get Tax Break (Video)

Washington Post: Big corporations use loopholes, dodge taxes: Study

New York Times: Biggest Public Firms Paid Little U.S. Tax, Study Says

CNN Money: Many Companies pay no income taxes, study finds

Salon: The great corporate tax scam

The Huffington Post: Thirty Of America's Most Profitable Companies Paid 'Less Than Zero' In Income Taxes In Last 3 Years: Report

MSNBC Rachel Maddow Show: Moore on fair share for the rich (Video)

Bloomberg: Thirty Top Companies Profited Without Paying Tax, Study Finds

AFP: Many big US firms avoid taxes: study

The Hill: Report: Corporations paid half statutory rate

Reuters: Thirty companies paid no income tax 2008-2010: report

Politico: Study: 30 tops firms paid no taxes

WSJ's Washington Wire: Are Corporations Paying Too Much in Taxes

More coming soon...

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