December 16, 2021

The Hill: Build Back Better is a chance to finally make corporate taxes line up better with profits

media mention

These planning opportunities have long helped to make corporate tax avoidance both incredibly successful and publicly infamous. Between 2018 and 2020, the Institute on Taxation and Economic Policy reports that 39 of America’s largest companies paid zero dollars in federal income tax, despite their reporting combined net profits of $122 billion. During this same period, an additional 73 profitable U.S. companies paid a combined effective federal income tax rate of just 5.3 percent — barely one-fourth of the nominal U.S. corporate income tax rate at the time. Read more