Corporate Taxes
Massey Pays One-Sixth of 35% Federal Tax Rate, Little in State Income Tax
April 15, 2010 • By Matthew Gardner
A new analysis shows that Massey Energy, which owned the Upper Big Branch mine where 29 West Virginia miners were killed last week, paid an average of 5.6 percent of its profits in federal income taxes over the last three years—despite having large profits in each year. This is less than one-sixth of the statutory […]
This study details which companies have benefitted the most from the decline in corporate taxes over the past three years, and which have been less fortunate. It also measures the effects of loopholes in our corporate tax laws that predated the George W. Bush administration. Specifically, the study looks at the federal income taxes paid […]
ITEP’s corporate tax research examines the tax practices of major corporations. Besides its corporate study on average effective tax rates paid by the nation’s largest, most profitable corporations, throughout the year, ITEP produces research on subjects such as offshore cash holdings, tax haven abuse, executive stock options and other tax loopholes. See ITEP’s more recent study of profitable corporations’ tax rates.
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