Re:66% Of American Corporations Pay Zero Federal Income Tax.
by jcl on Monday April 20, 2009 @09:54AM
(#570669)
In that time period, an annual average of 1.3 million U.S. companies and 39,000 foreign companies doing business in the United States paid no income taxes - despite having a combined $2.5 trillion in revenue.
I'm no financial genius, but I'd guess the key word here is "revenue", which is not the same as "profit". It's possible that most of these companies have no net income, hence no income tax.
I'm no financial genius, but I'd guess the key word here is "revenue", which is not the same as "profit". It's possible that most of these companies have no net income, hence no income tax.