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