December 16, 2019
More than 90 large, profitable corporations on the Fortune 500 list effectively did not pay a penny in federal income taxes in 2018, according to a new report published Monday by the Institute on Taxation and Economic Policy.
ITEP examined financial filings from 379 Fortune 500 companies that reported a profit in 2018, the first year President Donald Trump’s tax cuts took effect. The Republican tax law slashed the corporate tax rate from 35 percent to 21 percent.
December 16, 2019
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