Morning Call: PPL Corp. and other companies with Lehigh Valley ties paid zero U.S. taxes in 2020

Matthew Gardner, a senior fellow with the Institute on Taxation and Economic Policy and co-author of the organization’s report, said PPL documents show the company made pre-tax U.S. income of $880 million in 2020 but wound up with a benefit of $9 million in taxes, resulting in a minus 1% tax rate.

In the three years since the 2017 tax overhaul, PPL wound up with a $38 million benefit, or minus 1.3% tax rate, based on domestic income of $2.9 billion. Read more