us corporations get breaks on tax
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

U.S. corporations get breaks on tax

Arab Today, arab today

Arab Today, arab today U.S. corporations get breaks on tax

Washington - UPI

Many of the largest U.S. companies paid corporate income taxes at an effective rate far below the 35 percent in the tax code, a report released Thursday said.Two liberal groups, Citizens for Tax Justice and the Institute on Taxation and Economic Policy, looked at the records of 280 companies that made money each year between 2008 and 2010, CNN reported. They found the companies paid an average of about 18.5 percent in corporate taxes.While 71 companies paid more than 30 percent, others paid no corporate income tax at all -- and 30 had tax liability in negative territory thanks to what the report's authors called "excess tax breaks." Those included utility Pepco Holdings Inc. with total income of $882 million over the three years and General Electric Co. with income of $10.5 billion.Tax breaks, many of them geared to specific industries and even specific companies, have crept back into the tax code since a housecleaning during President Ronald Reagan's administration, the report said."GE paid billions of dollars in taxes in the United States over the last decade, and we expect our overall tax rate will be approximately 30 percent in 2011," the company said in a statement. "We believe the U.S. tax system needs to be reformed to close all loopholes, to lower the corporate rate and to provide a territorial system like every other major country in the world."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us corporations get breaks on tax us corporations get breaks on tax

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us corporations get breaks on tax us corporations get breaks on tax

 



GMT 23:24 2017 Tuesday ,24 January

Mofida Shiha prefers social TV programs to politics

GMT 21:23 2017 Sunday ,13 August

Fierce clashes between Daesh, SDF in Raqqah

GMT 19:31 2017 Monday ,16 October

Azhar Imam, Mufti to inaugurate international Fatwa

GMT 18:33 2017 Tuesday ,28 March

S. Korea Preparing for N. Korean ICBM Launch

GMT 23:39 2017 Tuesday ,19 September

Iran recruits Afghans, Pakistanis to fight in Syria

GMT 03:51 2017 Saturday ,11 November

'Lazarus' Daly says recovery no miracle

GMT 13:30 2017 Friday ,17 February

Four killed in Kashmir Gun battle

GMT 18:51 2017 Friday ,17 November

FIA WEC Bapco 6 Hours of Bahrain weekend starts
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday