Institute on Taxation and Economic Policy

April 15, 2010

Massey Pays One-Sixth of 35% Federal Tax Rate, Little in State Income Tax

ReportMatthew Gardner

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A new analysis shows that Massey Energy, which owned the Upper Big Branch mine where 29 West Virginia miners were killed last week, paid an average of 5.6 percent of its profits in federal income taxes over the last three years—despite having large profits in each year. This is less than one-sixth of the statutory federal corporate income tax rate of 35 percent.

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Author

Matthew Gardner
Matthew Gardner

Senior Fellow