Citations
6,242 posts
Rocky Mountain Telegram: Tax loopholes favor giant corporations
March 27, 2014
(Original Post) Tuesday, March 25, 2014 Gov. Pat McCrory and the Republican-led N.C. General Assembly in 2013 made good on their promises to cut corporate income taxes in order for North Carolina to better compete to land new businesses and industries – and the jobs that come with them. North Carolina’s tax rate on corporations […]
News & Record: Next to nothing
March 24, 2014
(Original Post) What’s less than a lower corporate income-tax rate? What some businesses actually pay. North Carolina legislators cut the state’s corporate income-tax rate last year from 6.9 percent to 6 percent. It’s scheduled to drop to 5 percent next year. Republican lawmakers said the cut was needed to create a better business climate and […]
The Record: The 5-cent solution – gas tax for New Jersey
March 24, 2014
(Original Post) MARCH 21, 2014, 4:53 PM LAST UPDATED: FRIDAY, MARCH 21, 2014, 4:53 PM BY CARL DAVIS THE RECORD Carl Davis is senior policy analyst at the Institute on Taxation and Economic Policy, a non-profit, non-partisan research organization that works on federal, state and local tax policy issues. IF YOU WERE to ask five […]
Reuters: Some big U.S. companies dodge state income taxes
March 21, 2014
(Original Post) WASHINGTON Thu Mar 20, 2014 6:14pm EDT (Reuters) – Some profitable U.S. corporations that avoid paying federal income taxes manage to do the same in states where they operate, said a study issued on Thursday by a tax activist group. From 2008 through 2012, ten U.S. companies paid no state income taxes, said […]
24/7 Wall St: Ten Huge Companies Dodged State Taxes for Five Years
March 21, 2014
(Original Post) By Douglas A. McIntyre March 21, 2014 6:38 am EDT States, often burdened by budget deficits that grew during the recession, are not getting tax receipts from some of America’s largest companies. Among them are Boeing Co. (NYSE: BA) and Merck & Co. Inc. (NYSE: MRK), which have not paid taxes for five […]
Daily Kos: That Sucking Sound? It’s The 73 Billion-Dollar Corporate Robbery of The States
March 21, 2014
(Original Post) Tasini THU MAR 20, 2014 AT 11:12 AM PDT What I really like about corporate skullduggery is that at least it’s usually done with big numbers, as in billions of dollars. Nothing on the cheap (except, of course, when it comes to paying workers). In another installment of “how can we fill our […]
The Day: Six firms paid less than 3% in state taxes
March 21, 2014
(Original Post) Published 03/21/2014 12:00 AMUpdated 03/20/2014 11:42 PM Six Connecticut-based companies, including General Electric, United Technologies, Northeast Utilities and Aetna, paid state taxes totaling less than 3 percent of their profits over the past few years, according to a new report. The report by Citizens for Tax Justice and the Institute of Taxation and […]
Accounting Today: Big Corporations Dodge Billions in State Taxes
March 21, 2014
(Original Post) WASHINGTON, D.C. (MARCH 21, 2014) BY MICHAEL COHN Some of the largest and most profitable Fortune 500 companies are paying little or nothing in state income taxes, according to a new study. The study, by the advocacy groups Citizens for Tax Justice and the Institute on Taxation and Economic Policy, examined 269 Fortune […]
Maryland Center on Economic Policy: Study Finds Many Large Corporation are Not Paying their Fair Share; Proposed Legislation Would Help
• By ITEP Staff
While state lawmakers in Annapolis discuss cutting important services and investments in an effort to balance Maryland’s state budget, we got further evidence today that large, profitable corporations are able to avoid paying their fair share of state taxes that support those services and investments. According to a new report, the 269 Fortune 500 companies […]
NC Policy Watch: Profitable corporations avoid paying fair share of taxes
• By ITEP Staff
As our state leaders continue to look for ways to give more and more tax cuts to profitable corporations, these corporations continue to find ways to avoid paying their fair share of taxes. It is a win-win proposition: Heads they win; Tails they still win! Read the Full Report
Pennsylvania Budget and Policy Center: Pa. Companies Like PPL, Heinz Paid Little or Nothing in State Income Taxes
• By ITEP Staff
Many profitable Fortune 500 companies including Pennsylvania-based PPL, H.J. Heinz, Airgas, Allegheny Technologies, Hershey, and Comcast are paying little or nothing in state income taxes thanks to loopholes, tax breaks, and crafty accounting, according to a new report from the Institute on Taxation and Economic Policy (ITEP) and Citizens for Tax Justice (CTJ). Read the […]
Oregon Center for Public Policy: Profitable Corporations Pay No Oregon Income Taxes
• By ITEP Staff
Some highly profitable corporations are finding ways to avoid paying any state income taxes, Oregon and national data show. At least 24 corporations that made a profit in Oregon in 2011, including eight with profits of over $5 million, paid no Oregon income taxes for that year, according to the Oregon Center for Public Policy’s […]
Kentucky Center for Economic Policy: While Kentucky’s Budget Faces More Cuts, Profitable Fortune 500 Companies Avoid Paying State Corporate Income Taxes
• By ITEP Staff
As Kentucky and other states struggle with tough budget decisions about essential public services, profitable Fortune 500 companies including Kentucky-based Yum Brands and Humana pay little to nothing in state corporate income taxes around the country, according to a new study by the Institute on Taxation and Economic Policy and Citizens for Tax Justice. Read […]
Voices for Illinois Children: Profitable Companies in Illinois Not Paying Their Fair Share of State Income Taxes
• By ITEP Staff
Over the past five years, many profitable Fortune 500 corporations, including several based in Illinois, paid little or no state income taxes to any of the states in which they do business thanks to copious loopholes, lavish giveaways, and crafty accounting. That’s the conclusion of a new report, released by Citizens for Tax Justice and […]
Wisconsin Budget Project: New Report Shows Major Corporations Based in Wisconsin Pay Little in State Income Tax
• By ITEP Staff
A number of large, profitable corporations in Wisconsin pay little or nothing in state corporate income tax, according to a new report. Loopholes, tax credits, and creating accounting keep the amount these corporations pay in income tax to a minimum. A study by the Institute on Taxation and Economic Policy and Citizens for Tax […]
North Carolina Justice Center: Tax change for multistate corporations would harm state investments
• By ITEP Staff
State lawmakers are considering a change that would provide a tax cut to a handful of corporations and no guarantee of job creation, says a report released this morning by the Budget & Tax Center, a project of the NC Justice Center. It would also reduce available revenue for public investments by $90 million over […]
The Hill: Our great nation of immigrants
March 20, 2014
(Original Post) March 17, 2014, 09:00 am By Rep. Matt Cartwright (D-Pa.) This month I, along with 34.5 million Americans of Irish descent, celebrate St. Patrick’s Day. It was Irish immigrant Annie Moore who was the first to pass through Ellis Island when it officially opened on New Year’s Day 1892. Today, Irish is the […]
The Hill: Corporations avoid state taxes
March 20, 2014
(Original Post) March 19, 2014, 10:01 pm By Bernie Becker Dozens of Fortune 500 companies paid no state corporate taxes in at least one recent year, according to a new report from liberal groups. The study, from Citizens for Tax Justice and the Institute on Taxation and Economic Policy, found that 269 companies in all […]
The Oregonian: 24 Oregon companies turned a profit but paid no income tax in 2011
March 20, 2014
(Original Post) By Christian Gaston | cgaston@oregonian.com on March 19, 2014 at 7:00 PM, updated March 19, 2014 at 7:08 PM At least two dozen profitable corporations paid no Oregon income taxes in 2011, according to a new study by the Oregon Center for Public Policy. The Silverton-based think tank sifted through data from the […]
Politico: Study Finds Nearly 100 Companies Don’t Pay State Income Taxes
March 20, 2014
(Original Post) Some of the country’s most famous Fortune 500 companies are using tax code giveaways and breaks to avoid paying state income taxes, a new study by Citizens for Tax Justice and the Institute for Taxation and Economic Policy, two left-of-center advocacy groups, found. The study examined 269 Fortune 500 companies that posted profits […]
Public News Service: Report Highlights Illinois Companies Dodging State Taxes
March 20, 2014
(Original Post) March 20, 2014 SPRINGFIELD, Ill. – Illinois may have the fourth highest corporate tax in the nation, but it turns out that not all businesses are actually paying it. Several Illinois-based companies are on a list of profitable Fortune 500 companies that paid zero state income tax in at least one year from […]
Indiana Institute for Working Families: What Corporate Tax Burden
• By ITEP Staff
On the immediate heels of significantly cutting taxes for corporations and high income individuals, lawmakers are close to making a deal to deliver additional tax breaks to some businesses including very profitable multi-national corporations. Read the Full Report
Policy Matters Ohio: Kasich Tax Plan- Advantage, Top 1 Percent
• By ITEP Staff
Gov. John Kasich’s new tax proposal would deliver annual tax cuts averaging more than $2,800 to the top 1 percent of Ohio taxpayers while those in the bottom two-fifths would pay more on average than they do now. Read the Full Report
Economic Policy Institute: The ‘Better Off Budget’
• By ITEP Staff
The Congressional Progressive Caucus (CPC) has unveiled its fiscal year 2015 (FY2015) budget, titled the “Better Off Budget.” It builds on recent CPC budget alternatives in prioritizing near-term job creation, financing public investments, strengthening the middle and working classes, raising adequate revenue to meet budgetary needs while restoring fairness to the tax code, protecting social […]
Burnt Orange Report: The Texas Miracle – The Devil in the Details
March 18, 2014
(Original Post) by: Joe Deshotel Fri Mar 14, 2014 at 02:00 PM CDT As the American economy begins to gain traction and the national dialogue addresses the subject of income equality it is a good time to reflect on merits of “The Texas Miracle.” The narrative is simple — Low taxes, low services, and low […]
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