"Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government".........READ MORE
No comments:
Post a Comment