GE was one of 18 Fortune 500 companies that paid no net federal income taxes between 2008 and 2015, a study by the Institute on Taxation and Economic Policy found. Though GE did report paying some federal taxes in 2010, its overall rate during the period has been negative. In 2016, the company earned $10 billion but recorded a tax benefit of $400 million for a 12-month tax rate of -4.5%, according to Forbes.
Indeed there’s nothing illegal or unethical in paying as little tax as the law permits, and no reader should understand the term tax avoidance as implying that GE has done anything other than seek to benefit its shareholders by lowering its corporate tax rate. Read more