Which American Corporations Didn’t Pay Taxes
By Paul Buchheit / NationofChange / April 9, 2012
This is tax time, or in the case of many big businesses, just another time without taxes. These companies deserve to be recognized. With the help of SEC data and the results of several excellent research studies, PayUpNow.org has selected the ‘winners’ of the 2011 Tax Avoidance Awards.
Last Year’s Results
First a review of last year’s results. The top spot went to General Electric, which made pre-tax profits of $44 billion from 2008 to 2010 but received almost $5 billion in refunds. A GE spokesperson added, “We are committed to acting with integrity in relation to our tax obligations.”
A close second was Exxon, notable for having the nation’s highest pre-tax earnings three years in a row, a 2% federal income tax payment rate, and hubris comparable to that of GE: “Any claim we don’t pay taxes is absurd…ExxonMobil is a leading U.S. taxpayer.”