Brain357
Platinum Member
- Mar 30, 2013
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The largest corporations pay 0 in taxes.
Really? Did you lie so much as a child?
Companies Paying the Most (and Least) Taxes
24/7 Wall St.January 8, 2014
1. Exxon Mobil
> Income tax expense: $31.0 billion
> Earnings before taxes: $78.7 billion (the most)
> Revenue: $428.4 billion (2nd most)
> 1-yr. share price change: +14.5%
> Industry: Oil and gas
2. 2. Chevron
> Income tax expense: $20.0 billion
> Earnings before taxes: $46.3 billion (3rd most)
> Revenue: $222.6 billion (3rd most)
> 1-yr. share price change: 13.8%
> Industry: Oil and gas
3. 3. Apple
> Income tax expense: $13.1 billion
> Earnings before taxes: $50.2 billion (2nd most)
> Revenue: $170.9 billion (4th most)
> 1-yr. share price change: +3.7%
> Industry: Computer hardware
4. 4. Wells Fargo
> Income tax expense: $9.1 billion
> Earnings before taxes: $28.5 billion (5th most)
> Revenue: $79.5 billion (28th most)
> 1-yr. share price change: +31.3%
> Industry: Banking
5. 5. Walmart
> Income tax expense: $8.0 billion
> Earnings before taxes: $25.7 billion (7th most)
> Revenue: $469.2 billion (the most)
> 1-yr. share price change: +14.9%
> Industry: Retail
Companies Paying the Most (and Least) Taxes
20% of big companies pay zero corporate taxes
How can profitable companies end up with a $0 corporate income tax bill? There could be a few reasons, according to the GAO.
Among them, they may get a lot of tax deductions for losses they had in previous years but carried forward. They also may be able to write off more for depreciating assets than they have to claim on their financial statements. Or, if they made profits offshore and haven't brought them back to the United States, they would not owe U.S. tax on them until they do.
Is it surprising that companies had huge losses carried forward from 2008 and 2009?
Only to liberal morons.
No kidding they play accounting games and pay no taxes. Not to mention huge CEO pay deductions.