Yahoo! Finance: 9 Popular Companies that Paid $0 in Taxes for 2018

A new report reveals that some American companies didn’t just pay no taxes last year — they paid negative taxes.

The report by D.C.-based think tank Institute on Taxation and Economic Policy (ITEP) looked at how Fortune 500 companies have been affected by U.S. President Donald Trump’s 2017 Tax Cuts and Jobs Act (TCJA) and found that 60 of America’s biggest corporations paid $0 in taxes this year.

In other words, instead of having to pay the standard 21% corporate tax rate (which is down from 35% after the new tax law), these companies collectively enjoyed a roughly -5% average effective tax rate from $4.3 billion in rebates. Read more

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