A report from Citizens for Tax Justice published on April 9, 2015.
Companies From Various Sectors Use Legal Tax Dodges to Avoid TaxesThis CTJ report illustrates how profitable Fortune 500 companies in a range of sectors of the U.S. economy have been remarkably successful in manipulating the tax system to avoid paying even a dime in tax on billions of dollars in U.S. profits. These 15 corporations’ tax situations shed light on the widespread nature of corporate tax avoidance. As a group, the 15 companies paid no federal income tax on $23 billion in profits in 2014, and they paid almost no federal income tax on $107 billion in profits over the past five years. All but two received federal tax rebates in 2014, and almost all paid exceedingly low rates over five years.
Companies Represent Diverse Economic SectorsThe companies profiled here represent a range of segments of the U.S. economy:
Read the full story and download the report here: http://ctj.org/ctjreports/2015/04/fifteen_of_many_reasons_why_we_need_corporate_tax_reform.php