BIG COMPANIES PAY FRACTION OF CORPORATE TAX RATE

From The New York Times, Article by Nelson D. Schwartz

BIG COMPANIES PAID A FRACTION OF CORPORATE TAX RATE

The biggest, most profitable American companies paid only a fraction of the taxes they would owe under the official corporate rate, according to a study released on Monday by the Government Accountability Office.

Using allowed deductions and loopholes, large corporations enjoyed a 12.6 percent tax rate far below the 35% tax rate in the statutory rate imposed by the federal government on corporate profits.

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We all remember how Apple used overseas subsidiaries to escape paying billions in taxes.  Of course many large corporations do the same.  

What was your tax rate?