Taxes: Big Companies, Small Bills

Over the past three years, General Electric earned $65 billion domestic profits but paid no federal income taxes Though that may represent the biggest tax advantage enjoyed by any major U.S. corporation, it is not rare. A study released last week by Citizens for Tax Justice, a Washington-based public interest coalition, shows that loopholes and incentive programs are reducing many corporate tax bills to zero. Among 250 major companies whose financial records were surveyed, 51% paid no federal income taxes in at least one of the past three years.

The decline in corporate taxes is largely the result of two decades...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!