(Ohio) ABC News 5: Three Ohio Energy Giants Haven’t Paid Federal Income Taxes in Three Years
media mentionIn fact, Akron-based FirstEnergy, Columbus-based AEP and Charlotte, N.C.-based Duke Energy had negative effective tax rates, according to the report by the Institute on Taxation and Economic Policy, a nonprofit, non-partisan think tank.
The paper, which analyzed tax disclosures in the corporations’ annual reports, found that 55 profitable companies didn’t pay any federal income tax in 2020, and 26 hadn’t paid any in the three years since the Trump tax law, known as the “Tax Cuts and Jobs Act.”