The corporate tax rate in the U.S. is 35%, but there aren't many companies that end up paying that amount. According to a study by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy, the average tax rate of 280 S&P 500 companies investigated was 18.5% between 2008 and 2010.
Over 70 companies paid no taxes at all.
And then there were the 30 companies that paid less than nothing .......................................... here's how they get away with it:
Read more: http://www.businessinsider.com/these-are-the-30-american-companies-that-paid-less-than-zero-income-tax-from-2008-2010-2011-11?op=1#ixzz25ibKYcax
Example - GE's effective tax rate for 2008 - 2010 was -45.3%.
Think about what that minus sign means. A big portion of GE's revenue came from the US Treasury !! YOUR MONEY! It's an extraction of monumental proportions.
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