Corporate Tax Dodging in the Fifty States, 2008-2010

NEW REPORT: 265 Major, Profitable U.S. Corporations’ Tax Avoidance Costs States $42 Billion Over Three Years

“Our report shows these 265 corporations raked in a combined $1.33 trillion in profits in the last three years, and far too many have managed to shelter half or more of their profits from state taxes,” said Matthew Gardner, Executive Director at the Institute on Taxation and Economic Policy and the report’s co-author. “They’re so busy avoiding taxes, it’s no wonder they’re not creating any new jobs.”

68 of the 265 Fortune 500 companies profiled paid no state corporate income tax in at least one of the last three years and 20 of them averaged a tax rate of zero or less during the 2008-2010 period.

Among the 20 corporations paying zero or less in state corporate income taxes over the three year period are: Utility provider Pepco Holdings (DC); pharmaceutical giant Baxter International (IL); chemical maker DuPont (DE); fast food behemoth Yum Brands (KY); high tech manufacturer Intel (CA).

“Corporate Tax Dodging in the Fifty States, 2008-2010” follows up on “Corporate Taxpayers and Corporate Tax Dodgers, 2008-2010” which was published in November by Citizens for Tax Justice (CTJ) and the Institute on Taxation and Economic Policy (ITEP). The two groups released their first major study on the federal income taxes that large, profitable American corporations pay on their U.S. pretax profits in 1984.


Media Coverage:

New York Times: Big Firms Limit Paying State Taxes, Study Finds

National Public Radio: Report Shows Many Profitable Companies Pay No State Income Taxes

Salon: Attack of the deadbeat corporations, Part 2

Bloomberg: Sixty-Eight U.S. Companies Avoided State Income Tax, Study Finds

Market Watch: New Report: 265 Major, Profitable U.S. Corporations' Tax Avoidance Costs States $42 Billion Over Three Years; Sixty Eight Companies Have at Least One Tax-Free Year

Huffington Post: State Income Tax Avoided By 68 Large Profitable U.S. Companies In Recent Years: Study

The Tennessean: Dollar General, Community Health are tax dodgers, report says

The Sacramento Bee: Report says big corporations paying little in California taxes

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