Environmental Working Group: Duke Energy Paid Less Than Zero in Federal Taxes

In a new report on the impact of President Trump’s tax cuts, the Institute on Taxation and Economic Policy, or ITEP, said Duke Energy’s effective federal tax rate in 2018 was minus 21.4 percent on more than $3 billion in revenue. In effect, U.S. taxpayers paid $647 million to the North Carolina-based utility, which serves 7.7 million customers in six states. Out of 91 corporations that ITEP found paid no federal taxes in 2018, Duke ranked 15th, with what is by far the largest windfall of all U.S. utilities.

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