Anonymous Coward
User ID: 78139144
04/02/2021 10:45 PM
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Report Copyright Violation | 55 large US companies paid zero federal income tax, policy watchdog finds Not only did 55 of the largest U.S. companies not pay any federal income taxes in 2020, many of them received tax rebates.Just as President Joe Biden is pushing to raise taxes on companies to help pay for his infrastructure plan, a report from a Washington policy group is highlighting how many firms pay zero despite making big pretax profits.
More than 50 of the largest U.S. companies paid nothing in federal income taxes last year, with many getting rebates, even though they reported almost $40.5 billion in pretax profits as a group, according to the Institute on Taxation and Economic Policy. The group believes the tax system needs to raise more tax revenue.
The 55 companies named in the report issued Friday cross many industries, from agriculture to high tech, and they include such big names as Nike, FedEx and Duke Energy. The report says the companies took advantage of breaks that were preserved or expanded under President Donald Trump's 2017 overhaul of the tax code, as well as the economic rescue package that Washington passed last spring.
Under the 2017 tax cut, the rate on corporate profits is 21%. But companies can use many tools to avoid taxes, such as writing off expenses related to the stock options they give their CEOs and other executives. [link to www.wtsp.com (secure)] Didn't see Gates,Musk,Bezos,or Apple on the list : [link to itep.org (secure)] |
Andrzej
User ID: 76922114
 United States
04/02/2021 10:48 PM
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Report Copyright Violation | Re: 55 large US companies paid zero federal income tax, policy watchdog finds Flat tax for every man, woman, and child and company who so much as sells a toothpick in America period Andrzej |
<~>
User ID: 78042016
04/02/2021 10:50 PM
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Report Copyright Violation | Re: 55 large US companies paid zero federal income tax, policy watchdog finds 55, that’s it? Some accountants getting fired after this news.... lol |
Imlay
User ID: 80197673
United States
04/02/2021 10:51 PM
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Report Copyright Violation | Re: 55 large US companies paid zero federal income tax, policy watchdog finds Flat tax for every man, woman, and child and company who so much as sells a toothpick in America period
Quoting: Andrzej  We're king of the beasts but we're hardly civilized. |
Wake up men
Star fleet is taking enrollments
User ID: 77041831
04/02/2021 10:59 PM
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Report Copyright Violation | Re: 55 large US companies paid zero federal income tax, policy watchdog finds You all need that business man who is not a politician back in the top office. instead of hanging on every non political word he spoke, you all need his views of running corporations and getting things done. he got the whole caboose moving and shaking. you need him back, and with out the liars around him telling him total lies. you need to riot to get him back. you need to demand your votes are honored and not shed like dandruff on a shoulder. can you all not see what happens when criminals rule? they do nothing at all unless they can steal.  Today was just a day, tomorrow is gonna be better.
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