April 14, 2021

NC Policy Watch: Some simple truths about the taxes corporations pay and Biden’s proposal blow the whistle on them

ITEP Work in Action

Discovery No. 1 one is that almost no major U.S. corporation, certainly not those that do business overseas, actually pays the 21% corporate tax rate, set by law. In fact, on average, Fortune 500 companies pay about half that much – 11.3% according to the non-profit Institute for Taxation and Economic Policy and Taxation, working from corporate reports. Read more