Wednesday, April 13, 2016

The real corporate tax rates

See this article citing the recently released Government Accountability Office report on real corporate tax rates. In 2012 two thirds of them paid no federal taxes. "In 2012 alone, 42.5 percent of businesses that the GAO defines as large did not pay federal taxes, including 19.5 percent of big corporations that posted a profit." Even though the top statutory tax rate is 35%, even those that pay corporate taxes only average an effective rate of 14%.

Update: As to the previous post on the Verizon strike, this article notes that Verizon paid no federal corporate income tax 2008-2013.

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