Select Media Mentions
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. […]
The Daily Advertiser: Tax reform tops Jindal’s ’13 agenda
December 20, 2012
BATON ROUGE — Gov. Bobby Jindal has picked tax reform as his top issue for the 2013 legislative session. But the form the reform will take is still being formulated. Tim Barfield, secretary of the Department of Revenue and Taxation and leader of the Jindal administration tax reform effort, says the 468 tax exemptions that […]
Reuters: Thirty companies paid no income tax 2008-2010: report
December 19, 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 19, 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 19, 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 […]
Washington Post: Study: Big corporations use loopholes, dodge taxes
December 19, 2012
(Original Post) By Jia Lynn Yang, Thursday, November 3, 12:00 AM Many of this country’s biggest companies paid no federal taxes — or even made money through credits and refunds from the government — over the past three years by using an array of loopholes and tax breaks, according to a report released Thursday. The […]
Concord Monitor: No tax holiday for profits held offshore
December 19, 2012
(Original Post) By Monitor staffNovember 4, 2011 The driving force behind the Occupy Wall Street protests that have cropped up across the nation is the participants’ belief that the game is rigged. Corporations and wealthy political campaign donors concoct the rules and a Congress more concerned with reelection than governing makes them the law of […]
Charlotte Observer: Big companies with big profits pay little in taxes, study finds
December 19, 2012
By Kirsten Valle Pittman [email protected] Posted: Friday, Nov. 04, 2011 Major U.S. companies – including a big bank, an energy titan and a manufacturer with close Charlotte ties – are paying unusually low taxes to the federal government, a study released Thursday found. The report from two left-leaning think tanks, Citizens for Tax Justice and […]
UPI: U.S. corporations get breaks on tax
December 19, 2012
(Original Post) Published: Nov. 4, 2011 at 1:52 AM WASHINGTON, Nov. 4 (UPI) — Many of the largest U.S. companies paid corporate income taxes at an effective rate far below the 35 percent in the tax code, a report released Thursday said. Two liberal groups, Citizens for Tax Justice and the Institute on Taxation and […]
Northwest Indiana Times: NiSource among companies getting large tax breaks
December 19, 2012
(Original Post) By Bowdeya Tweh [email protected], (219) 933-3316 | Posted: Friday, November 4, 2011 12:00 am NiSource Inc. was one of 30 companies that benefited from a negative income tax rate in the past three years, according to two national tax policy research groups. In a report released Thursday, Citizens for Tax Justice and the […]
News Max: Big Firms Pay No Taxes
December 19, 2012
(Original Post) Friday, 04 Nov 2011 12:53 PM By Jim Meyers With the federal government drowning in debt and lawmakers struggling to curtail the deficit, a new report shows that many of the nation’s biggest companies paid no federal taxes over the past three years — and some even made money through credits and refunds […]
Sun Sentinel: You paid more in taxes than FPL and other companies
December 19, 2012
(Original Post) By Julie Patel November 4, 2011 12:40 PM Thirty companies, including the parent company of Florida Power & Light, legally paid less than zero in federal income taxes in recent years, according to a report this month by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy. The two […]
The Street: Big Corporations Exploit Big Tax Loopholes
December 19, 2012
(Original Post) By Brian O’Connell 11/04/11 – 11:31 AM EDT NEW YORK (MainStreet) — Taxes are at the heart of the ongoing social debate in cities across the U.S., as the Occupy Wall Street movement flexes its muscles and escalates its visibility in clashes with police in Oakland, Calif. A study from the polling organization […]
RTT: Study Finds Many Corporations Pay No Income Tax
December 19, 2012
(Original Post) 11/4/2011 11:04 AM ET (RTTNews) – While many of the Republican presidential candidates have proposed slashing the corporate tax rate as a way to stimulate the economy, a recent study found that many of the nation’s most profitable companies are already paying well below the current corporate tax rate. The study, conducted by […]
Minnesota Post: New study sure to intensify political battle over corporate income taxes
December 19, 2012
(Original Post) By Dave Beal | Friday, Nov. 4, 2011 Best Buy faced a federal income tax liability of 39.3 percent for the three-year period of 2008-10 — above the statutory rate of 35 percent — while Wells Fargo ended up paying nothing. The disparity between two companies with a strong Minnesota presence is not […]
Daily News and Analysis: 30 corporate giants paid no US taxes in 3 years: Report
December 19, 2012
(Original Post) Published: Friday, Nov 4, 2011, 15:52 ISTPlace: NEW YORK | Agency: IANS Thirty of the 280 most profitable US corporations, including General Electric, Verizon and Boeing, paid no federal income tax in 2008-10, Citizens for Tax Justice (CTJ) said in a report released Thursday. Together, those 30 companies enjoyed pre-tax profits of $160 […]
AllGov: 30 Major Companies Paid No Federal Taxes Last 3 Years
December 19, 2012
(Original Post) Friday, November 04, 2011 According to the U.S. tax code, corporations pay a 35% tax rate on their earnings. But at least 30 of them paid zero federal income over the last three years, while hundreds of other companies paid half the official corporate rate. The findings, produced in a new report from Citizens […]
Austin Statesman: An occupation with purpose, and peace
December 19, 2012
Editorial Board Updated: 8:57 p.m. Friday, Nov. 4, 2011 Published: 8:34 p.m. Friday, Nov. 4, 2011 We’re thankful Austin hasn’t experienced the violence that has plagued other offshoots of the Occupy Wall Street movement, especially in Oakland, Calif. We thank the protesters who have been camping out at City Hall since Oct. 6 for their […]
Cult of Mac: Apple Among Few Tech Giants Paying ‘Fair’ Corporate Taxes [Report]
December 19, 2012
(Original Post) By Ed Sutherland (8:36 am, Nov 04) Don’t look for the Occupy movement to picket Apple. The iPhone maker is among just a few tech companies paying their fair share of corporate taxes. According to a report released Thursday, Apple paid a 31 percent tax rate. By comparison, the likes of HP, Yahoo […]
Death + Taxes: Largest Corporations Paid Only Half Their Taxes
December 19, 2012
(Original Post) By Kevin Pinner Friday, November 04, 2011 Between 2008-2010, 280 of the largest corporations paid an average federal income tax of 18.5% despite the statutory rate being 35%. crooge McDuck skiing on his stash while innocuous kids build money castles. Amidst a national discussion about corporate taxation, Citizens for Tax Justice, a nonpartisan […]
My Bank Tracker: Wells Fargo, PNC Hardly Pay Taxes
December 19, 2012
(Original Post) By Willy Staley Fri Nov 4, 2011 A new report on corporate tax rates shows that the financial services industry pays way less than its fair share. Citizens for Tax Justice and the Institute on Taxation and Economic Policy recently published a paper that examines the tax rates that 280 profitable Fortune 500 […]
Memphis Commercial Appeal: Study on corporate tax ‘dodgers’ names Memphis-based FedEx, Int’l Paper
December 19, 2012
WASHINGTON — Memphis-based FedEx Corp. paid no corporate income taxes in 2008 and International Paper Co. paid none last year, according to a study by Citizens for Tax Justice and the Institute on Taxation and Economic Policy released Friday. By Bartholomew Sullivan Posted November 4, 2011 at 5:26 p.m., updated November 4, 2011 at 9:51 […]
Economist: Focus: US corporate tax
December 19, 2012
(Original Post) Nov 4th 2011, 16:06 by The Economist Online The statutory federal income tax rate for big American companies is 35%. But a study by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy, two Washington, DC-based think-tanks, has assessed the tax records of 280 companies from the Fortune 500 […]
San Francisco Chronicle Bay: Area firms among 30 not paying federal taxes
December 19, 2012
(Original Post) Andrew S. Ross, Chronicle Columnist Friday, November 4, 2011 More grist for the anticorporate mill. Thirty major U.S. public companies, including San Francisco’s PG&E Corp. and Wells Fargo & Co., paid no federal taxes over the past three years, according to a report released Thursday. A number of them, notably Wells Fargo, also […]
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