According to figures compiled by the Institute on Taxation and Economic Policy (ITEP), a left-of-center group based in Washington D.C., between 2008 and 2015 Sempra earned $7 billion in profit but actually received $34 million back in federal taxes, equating to an effective tax rate of minus 0.5 percent.
“Sempra looks to me like a very straight-forward and very typical example of a company that’s able to use accelerated deprecation tax breaks to reduce their effective tax rate,” said Matthew Gardner, senior fellow at ITEP. Read more
