Many big US corporations pay very little in taxes, says study
Published on Feb 26, 2014 12:10 PM
WASHINGTON - Many of the most profitable US corporations paid little or no federal income tax from 2008 to 2012, according to a five-year study issued on Tuesday by a left-leaning tax activist group.
Citizens for Tax Justice looked at 288 profitable Fortune 500 companies and said that 26 of them - including Boeing Co , General Electric Co and Verizon Communications Inc - paid no federal income tax in the five-year period.
The group also said that 111 of the 288 companies paid no federal income tax in at least one of the five years measured.
In a reflection of how the tax code's complexity leaves many issues open to question, corporations sometimes dispute the way Citizens for Tax Justice calculates its numbers.
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