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Corporate Tax Dodgers Report

Corporate Tax Dodgers Report

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Published by: bgkelley on Apr 18, 2012
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04/27/2012

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CorporateTaxpayers&CorporateTax Dodgers
 2008-10
Robert S. McIntyre
Citizens for Tax Justice
Matthew Gardner
Institute on Taxationand Economic Policy 
Rebecca J. Wilkins
Citizens for Tax Justice
Richard Phillips
Institute on Taxationand Economic Policy 
November 2011
 A Joint Project of Citizens for Tax Justice & the Institute on Taxation and Economic Policy
 
Citizens for Tax Justice
is a nonpartisan research and advocacy group that fightsfor tax fairness—at the federal, state and local levels. Widely respected onCapitol Hill as “the average taxpayer’s voice in Washington,” CTJ ranked at thetop of the
Washington Monthly
’s list of America’s “best public interest groups.”
The Institute on Taxation & Economic Policy
has engaged in research on tax policy since 1980. ITEP is best known for its unique microsimulation tax model, animportant tool that helps the public and federal, state and local lawmakersunderstand how current and proposed tax laws affect taxpayers at differentincome levels.In the 1980s, CTJ & ITEP collaborated on a series of studies about the taxes paidor not paid by America’s largest and most profitable corporations. Those eye-opening reports played an important role in educating lawmakers about the taxissues that were ultimately addressed in the Tax Reform Act of 1986. That path-breaking federal legislation curbed tax shelters for corporations and the well-off and cut taxes on low- and middle-income families.
The Washington Post
calledthe reports a “key turning point” in the tax reform debate that “had the effect of touching a spark to kindling” and “helped to raise public ire against corporatetax evaders.”
The Wall Street Journal
said that the studies “helped propel the tax-overhaul effort,” and the Associated Press reported that they “assured thatsomething would be done . . . to make profitable companies pay their share.”This new report provides a detailed examination of what has happened tocorporate taxation in recent years. We hope that it will prove as useful topolicymakers and the public as our corporate tax studies in the 1980s.
1616 P Street, NW Washington, D.C. 20036 (202) 299-1066 www.ctj.org www.itepnet.org
Copyright© by Citizens for Tax Justice & the Institute on Taxation and Economic Policy, November 2011.
 
Corporate Taxpayers & Corporate Tax Dodgers, 2008-10
Contents
Introduction............................................................... 1Whos Paying Corporate Taxesand Whos Not................................... 3The Size of the Corporate Tax Subsidies......................................... 6Tax Rates (and Subsidies) by Industry........................................... 7Historical Comparisons of Tax Rates and Tax Subsidies............................. 9U.S. Corporate Income Taxes vs. Foreign Income Taxes.............................10How Companies Pay Low Tax Bills............................................. 11Who Loses from Corporate Tax Avoidance?..................................... 15 A Plea for Better Disclosure...................................................16Tax Reform (& Deform) Options............................................... 17 Year-by-Year Details on Companies Paying No Income Tax:
Thirty-seven corporations Paying No Income Tax in 2010
............................ 18
Forty-nine Corporations Paying No Income Tax in 2009
............................. 19
Twenty-two Corporations Paying No Income Tax in 2008
............................ 20 Appendix: Why “Current” Federal Income Taxes are the Best (and Only)Measure of the Federal Income Taxes Companies Actually Pay........................21DETAILED TABLES ON ALL 280 CORPORATIONS:
Effective Federal Corporate Tax Rates by Industry 
................................. 25
Effective Federal Corporate Tax Rates by 3-year tax rate
............................. 34
Effective Federal Corporate Tax Rates in alphabetical order
.......................... 42U.S. Profits & U.S. Income Taxes versus Foreign Profits & Foreign Income Taxes.........50Company-by-Company Notes................................................. 53Methodology............................................................. 66

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