Common Dreams: Amazon, Chevron, and Starbucks Among 91 Fortune 500 Corporations That Paid $0 in Federal Income Taxes in 2018: Report
media mentionMore 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.