Twelve Corporations Pay Effective Tax Rate of Negative 1.4% on $175 Billion in Profits; Reap $63.7 Billion in Tax Subsidies

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CTJ analyzes the pretax U.S. profits, federal taxes paid and effective tax rates of a dozen Fortune 500 companies over the 2008-10 period. From 2008 through 2010, these 12 companies reported $175 billion in pretax U.S. profits. But as a group, their federal income taxes were negative: –$2.4 billion.

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