Corporate Tax Dodgers: 10 Companies and Their Tax Loopholes

Hey they deserve it: they work US hard!

Family Survival Protocol - Microcosm News

A new report looks at 10 U.S. corporations that have used an array of tax loopholes and corporate subsidies to slash their tax bills: Bank of America, Citigroup, ExxonMobil, FedEx, General Electric, Honeywell, Merck, Microsoft, Pfizer, and Verizon.

Corporate Tax Dodgers - New Report

HIGHLIGHTS OF 10 CORPORATE TAX DODGERS

Bank of America
Had $17.2 billion in profits offshore in 2012 on which it paid no U.S. taxes. Reported it would owe $4.3 billion in U.S. taxes if profits are brought home.

Citigroup
Had $42.6 billion in profits offshore in 2012 on which it paid no U.S. taxes. Reported it would owe $11.5 billion in U.S. taxes if profits are brought home.

ExxonMobil
Paid just a 15% federal income tax rate from 2010-2012, less than half the official 35% corporate tax rate – a tax subsidy of $6.2 billion. Had $43 billion in profits offshore in 2012…

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2 responses to “Corporate Tax Dodgers: 10 Companies and Their Tax Loopholes

  1. Thank you for the re-blog George 🙂
    LOL. you are too funny 😛

    Like

    • Thank you Desertrose! It is so ridiculous… Mind boggling!
      THe worst farce of all time! the worst show! and that’s how the world’s stage, and we’re the actors!

      Like

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