The Business Journals: $178 billion in profits, no taxes paid

A new study from the Institute on Taxation and Economic Policy illustrates the degree to which that practice is playing out. The study show how 258 profitable Fortune 500 companies collectively“paid an effective federal income tax rate of 21.2 percent” from 2008-15, with 18 companies paying no federal income tax during that time despite earning pretax profits of nearly $178 billion over the measured period. Read more