Star News: 35% corporate tax rate? Not even close for some big companies, study finds
media mentionNovember 3rd, 2011 05:05pm
by Wayne Faulkner
The corporate tax rate is 35 percent. But an examination of 280 of the nation’s largest corporations suggests that many aren’t paying anything close to that, reports CNNMoney.
The report was issued by Citizens for Tax Justice and the Institute on Taxation and Economic Policy. It painted the corporate tax code as wildly inefficient, filled with loopholes and subject to the influence of lobbyists, CNNMoney said.