Twelve Corporations Pay Effective Tax Rate of Negative 1.5% on $171 Billion in Profits; Reap $62.4 Billion in Tax Subsidies

Source: Citizens for Tax Justice, June 1, 2011

CTJ analyzes the pretax U.S. profits, federal taxes paid and effective tax rates of a dozen Fortune 500 companies over the 2008-10 period. From 2008 through 2010, these 12 companies reported $171 billion in pretax U.S. profits. But as a group, their federal income taxes were negative: -$2.5 billion.

Leave a Reply