30 Major Corporations Paid No Taxes From 2008-2010

by National Confidential Staff | 03 November 2011 | 12:50 am EST

Topics Citizens for Tax Justice, Corporations, Economy, Institute on Taxation and Economic Policy, Jobs, Taxes

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A new bombshell report reveals that 30 major US corporations effectively paid no taxes between 2008 and 2010 as they raked in giant profits. The report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy shows that these companies all had negative effective tax rates, meaning that they earned more in profits after accounting for taxes than before.

This tax dodge occurs at a time when America needs revenue to keep the country running and Republicans have opposed Democratic efforts to get major corporations to pay up like citizens do.

Here are the 30 major corporations getting away with fiscal homicide and their effective tax rates. Yes, those are NEGATIVE tax rates.

Pepco Holdings -57.6%
General Electric -45.3%
Paccar -30.5%
PG&E Corp -21.2%
Computer Sciences -18.3%
NiSource -16.4%
CenterPoint Energy -14.7%
Tenet Healthcare -11.6%
Atmos Energy -11.6%
Integrys Energy Group -11.3%
American Electric Power -9.2%
Con-way -9.1%
Ryder System -7.3%
Baxter International -7.1%
Wisconsin Energy -4.9%
Duke Energy -3.9%
DuPont -3.4%
Consolidated Edison -3.0%
Verizon Communications -2.9%
Interpublic Group -2.6%
CMS Energy -2.2%
NextEra Energy -2.2%
Navistar International -2.0%
Boeing -1.8%
Wells Fargo -1.4%
El Paso -1.0%
Mattel -0.9%
Honeywell International -0.7%
DTE Energy -0.7%
Corning -0.2%

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