Corporate Taxes
The Washington Post Is Wrong: Many Rich Americans Are Not Paying Their Fair Share
• By Jessica Vela
Bezos' hand-picked editorial board argues that our tax code does not need to be more progressive because the share of federal income tax paid by the rich already exceeds their share of income. This is grossly misleading for at least two reasons.
The Big Corporations That Avoided All Federal Income Taxes on Their 2025 U.S. Profits Would Like Us All to Please Just Look at That Squirrel Over There
• By Matthew Gardner
When confronted with the completely accurate observation that their own annual reports disclose an estimated current federal income tax expense of zero on current-year income, the companies will desperately point to something else entirely.
State Rundown 4/23: While Some States Stop Digging, Others Move Full Steam Ahead with Anti-Affordability Agendas
• By ITEP Staff
Missouri lawmakers passed legislation that will have residents vote on a proposal at the ballot box. The ask: for them to pay more in sales taxes to offset cuts – and the possible elimination – of the state's individual income tax, which makes up nearly two-thirds of Missouri’s general fund.
While States Debate New Trump Tax Changes, Equity Must Be at the Core
• By Brakeyshia Samms
States continue to debate whether and how to link their state tax codes to the 2025 federal tax law. This is not just a technical debate.
State Rundown 4/16: Tax Day, a New Millionaires’ Tax and Late Blooming State Tax Action
• By ITEP Staff
Yesterday was Tax Day, and with many state legislative sessions wrapping, some tax changes are gearing up or crossing over the finish line.
North Carolina, Pushing Tax Cuts on Three Fronts, Risks a Repeat of Kansas Debacle
• By Carl Davis
Tax cuts are looming large on the horizon in North Carolina. So large, in fact, that even some traditionally anti-tax voices are starting to get nervous.
At Least 88 Profitable U.S. Corporations Paid Zero Federal Income Tax in 2025
• By Matthew Gardner, Spandan Marasini
At least 88 of the largest corporations in America paid $0 in federal income tax for 2025. Corporate tax avoidance has increased at least in part due to President Trump's “One Big Beautiful Bill Act” and the 2017 Tax Cuts and Jobs Act.
State Rundown 4/8: Budget and Tax Packages Take Shape as Sine Die Approaches in Many States
• By ITEP Staff
State legislative sessions are wrapping up, and final tax and budget packages are making their way to governors’ desks.
Year One of Trump-Republican Tax Policy: The Consequences
• By Michael Ettlinger
President Trump has dramatically increased tariff taxes, enacted large tax cuts that primarily benefit the wealthy and corporations, dramatically curtailed IRS enforcement, and issued legally problematic regulations.
How to Make the Rich and Corporations Pay for This Unpopular War
• By Michael Ettlinger
The war is widely unpopular. Whether the cost of the war ends up being $200 billion, more than that amount, or less, let’s at least have it paid for by those who can most afford it.
State Rundown 3/18: New Mexico Enacts Most Significant Corporate Tax Reform of the Year
• By ITEP Staff
As states lawmakers continue to weigh their linkages to the federal tax code in light of the recent federal tax law, New Mexico provides a blueprint for limiting multinational corporate tax avoidance.
How Four Big Pro-Trump Tech Companies Avoided Taxes
• By Steve Wamhoff, Matthew Gardner
The leaders of Alphabet, Amazon, Meta, and Tesla publicly supported Trump to ensure the most favorable corporate tax policies possible. And Trump delivered for them, both in his 2017 tax bill and again in 2025 with the so-called One Big Beautiful Bill Act.
States Should Be Doing More About Corporate Tax Avoidance. New Mexico’s Tax Conformity Law Shows How.
• By Carl Davis
On top of declining to fold large federal business tax cuts into state law, New Mexico also took the monumental step of hardening the state’s corporate tax base against offshore profit shifting.
State Rundown 3/12: Washington Lawmakers Pass Millionaires’ Tax, Expand Working Families Tax Credit
• By ITEP Staff
Washington is on its way to making history after the legislature approved the “millionaires’ tax,” a 9.9 percent tax on income over $1 million. The bill, which is expected to raise more than $3 billion a year, making significant investments in public education and childcare, will also expand the Working Families Tax Credit – the […]
State Rundown 3/4: Budget Realities Set In
• By ITEP Staff
As many state legislative sessions near or cross the halfway point, lawmakers are facing tough choices.
New Income Tax Disclosure Rules Mean Halliburton Can No Longer Conceal Its Offshore Tax Avoidance
• By Matthew Gardner
The company’s latest annual report throws the doors wide open once again on Halliburton’s penchant for offshoring its profits to tax havens, thanks to terrific new disclosure rules introduced by an obscure but vital agency, the Financial Accounting Standards Board (FASB).
Cheniere Energy Gets $380 Million Gift from Trump’s Treasury Department
• By Matthew Gardner
Cheniere Energy's latest annual financial report shows the company reaped a cool $380 million in tax cuts from a single regulatory change made by the Trump administration last fall.
Nvidia’s Tax Bill Shows It’s Not Just Zero-Tax Corporations That Hurt Our Budget Deficit the Most
• By Matthew Gardner
Semiconductor giant Nvidia reported avoiding $6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing $123 billion.
Yum! Brands’ Recipe for Tax Avoidance: Trump Tax Cuts with a Dash of Malta
• By Matthew Gardner
the fast-food multinational that owns KFC, Taco Bell, and Pizza Hut reported this week that it made $1 billion of pretax profits in the U.S. last year—and didn’t pay a dime of federal income taxes on those profits.
State-by-State Estimates of the First Year of Trump’s Tax Policies: All But the Richest Americans Face Higher Taxes
• By Steve Wamhoff, Michael Ettlinger
As a result of the tax policies approved by President Trump and the Republican majority in Congress, all but the richest Americans are paying higher taxes on average in 2026 than they did last year.
Live Nation Entertainment Says Trump Tax Law Drove its 2025 Federal Income Tax Bill to Zero
• By Matthew Gardner
The company paid zero federal income tax in 2025 despite reporting $145 million of U.S. profits.
Trump Administration Provides Biggest Illegal Tax Cuts Yet for Billion-Dollar Corporations
• By Amy Hanauer
The Treasury Department is unilaterally cutting corporate taxes with regulations that ignore the statute they claim to implement, disregarding the separation of powers between the branches of government that has defined how America works for more than two centuries.
It’s Time for States to Jettison Nonsensical FDDEI Deductions
• By Carl Davis
FDDEI deductions should be repealed for policy reasons alone as they do not serve a legitimate purpose at the state level.
Palantir Pays Zero Federal Income Tax Despite Explosive Growth, Largely Due to Trump Tax Law
• By Matthew Gardner
Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Despite explosive growth, tax breaks from the Trump tax law helped Palantir avoid paying even a dime of federal income tax on its earnings.
Michigan Ballot Proposal Would Boost Public Education While Creating a Fairer Tax System
• By Miles Trinidad, Matthew Gardner
A new proposal in Michigan would create a 5-percentage point surcharge on top earners with taxable incomes over $1 million for joint filers and $500,000 for single filers. This would raise about $1.7 billion a year, which would be used for public education priorities.
