Morning Call: Air Products collects $17 million tax rebate, one of many Fortune 500 companies that paid no corporate taxes
media mentionAir Products joined PPL, which during approximately the same period had a $19 million federal tax cut, according to the nonprofit Institute on Taxation and Economic Policy.
Fortune 500 company PPL not only paid no federal taxes last year, it got a $19 million rebate; it says it has invested those savings »
The institute released a report in December describing how about 400 Fortune 500 companies, including PPL and Air Products, “avoided” nearly $74 billion in taxes during the first year of the Tax Cuts and Jobs Act of 2017. It updated a report first released in April on companies’ tax rates. Air Products did not make the initial list because the institute’s research covered companies’ earnings in calendar year 2018. Air Products’ fiscal year runs October through September. Read more