The Spectrum: Solution Possible for the Corporate Tax Issue
media mentionBy Della Lowe:
A week ago, Walgreen’s reversed its decision to move its corporate headquarters out of the United States, a move that would have been in name only but would have allowed the drugstore chain to save billions of dollars over the next five years in taxes. It appears from the news reports that the decision not to flee may have been based on both political and public reaction, including mine because I am also a very loyal Walgreen’s customer.
..
According to a study of Fortune 500 companies released this year by the Institute on Taxation and Economic Policy, quoted in the New York Times, the average tax rate from 2008 to 2012 on utility, gas and electric companies was 2.8 percent. The rate for the industrial machinery sector was 4.3 percent. For telecommunications the average was 9.8 percent, and aerospace came out at 19.7 percent.