Thread: Most US Companies avoid paying income tax
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Old 08-12-2008, 12:28 PM
Ravi Ravi is offline
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Ravi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religionRavi could successfully start his own religion
But

According to the report:

Quote:
The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.
Shifting income to low tax countries?

Quote:
About 25 percent of the largest U.S. companies paid no federal income taxes in 2005 despite $1.1 trillion in gross sales that year, they said.
I have a hard time believing 25% of our largest companies are S-corps.

Study says most corporations pay no U.S. income taxes | Markets | Bonds News | Reuters
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