The Successful Corporations That Somehow Don’t Pay Any Taxes

by Rachel Baker on April 21, 2014

This article, posted last week, is about the report by Citizens for Tax Justice and the Institute on Taxation and Economic Policy that looked at the tax filings of 288 profitable companies. The article has charts with companies, their profits, the tax, and the rate they pay for a five year total and a few years of individual breakdown. Further, at the end of the article, there’s links to show you how to see how much a corporation pays and recommends you look at your own tax form as a comparison.

Tax day came and went this week, resulting in a collective moan about writing a check to Uncle Sam. Want to minimize your tax burden next year? Here’s a possible solution. Turn yourself into a corporation. You may have to pay no taxes at all!

That looks like decent strategy in light of a new report. It shows how, among Fortune 500 companies, 111 paid no federal corporate tax in one of the last five years. And that some–including Boeing, General Electric,, and Verizon–had a negative tax rate over the period (the government actually gave them money) despite combined profits of $170 billion.

Read the whole article here:

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