Fiscal Times: Dozens of Major Corporations Paid No Federal Income Taxes in 2020: Report

At least 55 large corporations paid no federal corporate income taxes in 2020, according to a new analysis by the Institute on Taxation and Economic Policy.

The companies in the analysis had more than $40 billion in pre-tax income and would have paid about $8.5 billion in taxes at the 21% corporate tax rate. But none of those taxes were collected, and the companies instead received roughly $3.5 billion in rebates, bringing the total for tax breaks for the group to $12 billion.

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