The Sorry State of Corporate Taxes: What Fortune 500 firms pay (or don’t pay) in the USA and what they pay abroad
Posted February 25, 2014 in Press Releases
For immediate releaseContact Zach Schiller, 216.361.9801or Jenice Robinson, 202.277.8750
Two Ohio companies -- American Electric Power and FirstEnergy -- were among the 26 major companies that in the aggregate paid no federal income tax over the five-year period between 2008 and 2012. Most companies included in this new study aren't paying anywhere near the statutory 35 percent tax rate.
Download full report (88 pp)
Many of America’s most profitable corporations pay little or no federal income taxes; Multinationals pay higher rates abroad than in the U.S.