16 More Profitable Companies That Pay Almost Nothing In Taxes (BA, AMZN, RRC, CCL)
General Electric managed the remarkable task of paying absolutely no taxes on U.S. profits of $5.1 billion.
They’re not the only tax dodgers.
Over 100 companies on the S&P500 paid less than 20 percent in taxes, according to a study by Capital IQ and the NYT. That's not even counting 37 companies like Citigroup and AIG that received more in tax credits than they paid. All this thanks to loopholes in the immensely complicated tax code.
America’s corporate tax rate is supposed to be 35 percent.
We tracked down the data from Capital IQ to identify 16 more large, profitable corporations that pay less than 5 percent in taxes.
#16 Red Hat, Inc. (RHT)
Pre-tax income: $463 million
Taxes paid: $21 million
Tax rate: 4.62%
2005-2009 aggregate data provided by Capital IQ.
#15 Boeing Co. (BA)
Pre-tax income: $17,587 million
Taxes paid: $796 million
Tax rate: 4.46%
2005-2009 aggregate data provided by Capital IQ.
#14 Amazon.com (AMZN)
Pre-tax income: $3,512 million
Taxes paid: $152 million
Tax rate: 4.33%
2005-2009 aggregate data provided by Capital IQ.
See Also:
- The 10 Worst Tenants In New York City
- HOUSE OF THE DAY: $17 Million For "The Best Spot" On California's Coastline
- PHOTOS: Inside Berlusconi’s Notorious Bunga Bunga Party
