Forbes: The $750 Question: How Trump’s Taxes Reveal The Deep Unfairness Of The U.S. Tax Code
media mention“There are certainly some tax advantages available to larger corporations that are practically unavailable to individuals. Most large businesses have full-time staff available to help negotiate the tax laws,” said Matt Gardner, a senior fellow at the nonpartisan Institute on Taxation and Economic Policy (ITEP) and a corporate tax expert who regularly studies Fortune 500 corporate taxation issues.
A 2019 study conducted by Lorena Roque, Steve Wamhoff, and Gardner found that the 379 profitable Fortune 500 companies paid an effective federal tax rate of only 11.3% for 2018. Even more alarming, 91 of these highly profitable companies paid no federal income taxes at all. The study also found that 56 of the companies paid an average tax rate of only 2.2 percent.