Top ten U.S. companies avoiding tax
U.S. multinational companies avoid $90 billion in income tax annually, according to new research released by Citizens for Tax Justice and the U.S. Public Interest Research Group.
The campaigners found that some companies are so successful at avoiding taxes that they end up making money from the government: 26 of the 288 profitable companies examined paid a negative tax rate over the five-year period from 2008 to 2012.
US financial website Market Watch named the top ten as:
Pepco Holdings - Tax rate: -33%
PG&E Corp. - Tax rate: -16.7%
NiSource - Tax rate: -13.6%
Wisconsin Energy - Tax rate: -13.5%
General Electric - Tax rate: -11.1%
Tenet Healthcare - Tax rate: -6%
American Electric Power - Tax rate: -5.8%
Priceline.com - Tax rate: -3%
Verizon Communications - Tax rate: -1.8%
Boeing - Tax rate: -1%
Many benefited from accelerated depreciation tax loopholes, deferred taxation and tax breaks on investment capital.
All the companies say they pay tax in accordance with the law.
This story has been added to our corporate database. The database powers all our live product guides, giving the score for each company on our rankings tables. Find out more about how we rate companies.
Find out more about our tax justice campaign including our boycott of Amazon.
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