Institute on Taxation and Economic Policy

ITEP's Research Priorities

Business Insider: Guess What? General Electric Didn’t Pay Any Income Taxes In 2010 Either

December 21, 2012

(Original Post) Vivian Giang Nov. 3, 2011, 6:01 PM In March, we reported that General Electric made $5.1 billion in U.S. profits, yet managed to dodge paying any federal taxes. The data was based on a study conducted by Capital IQ and the NYT on companies between 2005 to 2009. Believe it or not, in […]

Market Watch: 280 Most Profitable U.S. Corporations Shelter Half Their Profits from Taxes; Thirty Companies Paid Less Than Zero in Taxes in the Last Three Years

December 21, 2012

(Original Post) WASHINGTON, Nov. 3, 2011 /PRNewswire via COMTEX/ — Citizens for Tax Justice and the Institute on Taxation and Economic Policy Release “Corporate Taxpayers and Corporate Tax Dodgers, 2008-2010” A comprehensive new study that profiles 280 of America’s most profitable companies finds that 78 of them paid no federal income tax in at least […]

The Grand Rapids Press: 30 U.S. corporations paid ‘less than zero’ income tax from 2008-2010

December 21, 2012

(Original Post) Published: Thursday, November 03, 2011, 2:58 PM     Updated: Thursday, November 03, 2011, 9:36 PMTroy Reimink | The Grand Rapids Press By Troy Reimink | The Grand Rapids Press How’s this for a blood-boiler: A new report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy identifies 30 corporations who […]

Seattle Post Intelligencer: Report claims Boeing paid no taxes over past three years

December 21, 2012

(Original Post) By AUBREY COHEN, SEATTLEPI.COM STAFFPublished 09:53 p.m., Thursday, November 3, 2011 Boeing has paid less than nothing in taxes on its billions of dollars in profits over the past three years, according to a new report. But Boeing disputes the accounting, saying it paid hundreds of millions in taxes from 2008 through 2010. […]

Daily Mail: Thirty of biggest U.S. companies paid zero income tax over last three years despite making combined profits of $160 billion

December 21, 2012

(Original Post) Average tax rate for 280 companies in study was 18.5 percent – less than half the statutory rate of 35 per cent Total tax subsidies given to all corporations in report amounted to $222.7 billion from 2008 to 2010 Wells Fargo tops the list, getting nearly $18 billion in tax breaks from the […]

News Leader: Verizon workers, protesters, seek to ‘Unify Main Street’

December 21, 2012

10:27 PM, Nov. 3, 2011 Written by Spencer Dennis OLIVUE — It wasn’t a strike, and it wasn’t a protest. As the Occupy movement seems to gain steam, local supporters are branching out and digging in. “This is a barbecue,” said Donald Bush, a supporter of Occupy Staunton who, along with Verizon union workers, was […]

Seattle Times: Few companies pay anything close to 35 percent federal tax rate

December 21, 2012

(Original Post) A report on corporate taxation released Thursday calls out Bellevue-based truck maker Paccar and more than two dozen other major corporations for paying no net federal income taxes over the past three years, despite being profitable each of those years. By Drew DeSilver Seattle Times business reporter Paccar had an effective U.S. tax […]

Star News: 35% corporate tax rate? Not even close for some big companies, study finds

December 21, 2012

(Original Post) November 3rd, 2011 05:05pm by Wayne Faulkner The corporate tax rate is 35 percent. But an examination of 280 of the nation’s largest corporations suggests that many aren’t paying anything close to that, reports CNNMoney. The report was issued by Citizens for Tax Justice and the Institute on Taxation and Economic Policy. It […]

Accounting Today: 30 Major Corporations Avoided Federal Income Taxes

December 21, 2012

(Original Post) Washington, D.C. (November 3, 2011) By Michael Cohn, Accounting Today The 280 most profitable U.S. corporations are sheltering half their profits from federal income taxes, and 30 of them paid less than zero in the last three years, according to a new study. The study also found that 78 of the corporations paid […]

Tax.com: I Thought the ‘Dodgers’ Were a Baseball Team?

December 21, 2012

(Original Post) Christopher Bergin | Nov. 3, 2011 11:13 AM EDT There’s a report that’s getting a lot of attention this morning that concludes that many large U.S. corporations paid little or no corporate income taxes between 2008 and 2010 even though they raked in millions of dollars. The report, prepared by the interest group […]

Daily Kos: Thirty American Corporations Paying Zero Income Taxes between 2008 – 2010

December 21, 2012

(Original Post) Thu Nov 03, 2011 at 02:16 PM PDT NetminderElite I know this is probably old news for a lot of us, but if I get one person to realize this for the first time, I’ve achieved what I want.  If you are not aware, between 2008 and 2010, thirty large and wealthy American […]

Care 2: While More People Fall Into Poverty, 30 Corporations Paid No Federal Taxes

December 21, 2012

(Original Post) by Robin MartyNovember 3, 20118:00 am There’s some good news in the job market today, as the rate of filing for unemployment dropped to 397,000, the lowest it has been in weeks.  Although economists caution that the drop would need to be sustained in order to show true job recovery, it’s still a […]

CBS News: Study: Many Fortune 500 cos. paid $0 taxes

December 21, 2012

(Original Post) November 3, 2011 3:00 AM By David Morgan (CBS News) Advocates for reducing U.S. corporate tax rates argue that lower corporate rates charged in other countries impede American competitiveness. Yet a new study finds that many of the nation’s top companies are already paying less in U.S. taxes on their pretax profits than […]

The Hill: Liberals call for corporate ‘Buffett Rule’

December 21, 2012

(Original Post) By Bernie Becker – 11/03/11 10:47 AM ET In the wake of a new study on corporate tax practices, some liberals are calling for a “Buffett Rule” for the business world. The study, released Thursday by a pair of liberal advocacy groups, found that a slew of Fortune 500 companies paid well below […]

Los Angeles Times: Corporate taxes: Many top U.S. firms paid none, report says

December 21, 2012

(Original Post) November 3, 2011 |  9:54 am— Tiffany Hsu Many of the nation’s most profitable companies are paying far less than the 35% corporate income tax rate, with dozens paying none at all, according to a new report. Advocacy and research groups Citizens for Tax Justice and the Institute on Taxation and Economic Policy […]

Chicago Tribune: Chicago-area companies among those that pay $0 in income tax: Study

December 21, 2012

Integrys, Baxter, Navistar and Boeing included on list 5:05 p.m. CDT, November 3, 2011 The corporate tax rate is 35 percent, but an examination of 280 of the nation’s largest corporations suggests that many aren’t paying anything close to that. The real tax rate paid by a slew of major corporations averages closer to 18.5 […]

The American Independent: Wells Fargo received most tax breaks since 2008, report says

December 21, 2012

By Andrew Duffelmeyer Thursday, November 03, 2011 at 3:00 pm Wells Fargo & Co. tops the list of companies receiving the largest tax breaks since 2008, according to a joint study from Citizens for Tax Justice and the Institute on Taxation and Economic Policy. Wells Fargo is one of 30 companies that paid less than […]

Mother Jones: Tax Base Broadening: Debunked

December 21, 2012

(Original Post) By Siddhartha Mahanta| Thu Nov. 3, 2011 11:30 AM PDT Business leaders, some congressional Democrats, and almost all congressional Republicans think corporate tax rates should be lower. By closing loopholes, corporate tax-cutters argue, the government could reduce rates from the current 35 percent to 25 percent or even lower—all without losing revenue. The […]

The Hill: Corporations paid half statutory tax rate

December 21, 2012

Original Post By Bernie Becker – 11/03/11 12:01 AM ET A large swath of Fortune 500 companies, on average, paid an effective tax rate that was essentially half the top statutory corporate rate of 35 percent in 2009 and 2010, a new study found. The report, from the liberal advocacy groups Citizens for Tax Justice […]

CNN Money: Many companies pay no income taxes, study finds

December 21, 2012

(Original Post) By Charles Riley @CNNMoney November 3, 2011: 3:10 PM ET NEW YORK (CNNMoney) — The corporate tax rate is 35%. But an examination of 280 of the nation’s largest corporations suggests that many aren’t paying anything close to that. The real tax rate paid by a slew of major corporations averages closer to […]

Politico: Study: 30 top firms paid no federal income taxes

December 21, 2012

(Original Post) By TIM MAK | 11/3/11 6:35 AM EDT Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes. In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned […]

Reuters: Thirty companies paid no income tax 2008-2010: report

December 21, 2012

(Original Post) By Kevin Drawbaugh Thu Nov 3, 2011 5:58am EDT (Reuters) – Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010, said a study on Thursday that arrives as Congress faces rising demands for tax reform, but seems unable or unwilling to act. Pepco Holdings, a Washington, D.C.-area power […]

AFP: Many big US firms avoid taxes: study

December 21, 2012

(Original Post) By Rob Lever (AFP) – 10 hours ago WASHINGTON — Dozens of US corporations paid no federal taxes in recent years and many received billions of dollars in government subsidies despite earning healthy profits, a new study showed Thursday. The report by Citizens for Tax Justice and the Institute on Taxation and Economic […]

Salon: America’s corporate tax obscenity

December 21, 2012

(Original Post) A new report about companies’ finances won’t just enrage you — it’ll make you run to the nearest protest By Andrew Leonard In 2010, Verizon reported an annual profit of nearly $12 billion. The statutory federal corporate income tax rate is 35 percent, so theoretically, Verizon should have owed the IRS around $4.2 […]

Bloomberg/BNA: Tax Reform Likely in 15 State Legislatures in 2013, Think Tank Says

December 20, 2012

December 20,2102 The major shifts in partisan control due to the November elections, which resulted in 37 states having unified one-party control over the Legislature and governorship, are likely to bring state tax reform to the forefront in 2013, Matthew Gardner, executive director of the Institute on Taxation and Economic Policy (ITEP), said Dec. 19. […]