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Nike and FedEx Among Companies That Paid $0 in 2020 Federal Income Tax

Nike and FedEx Among Companies That Paid $0 in 2020 Federal Income Tax Joe Cortez April 11, 2021, 12:00 PM It’s no secret that major corporations rely on tax loopholes to reduce their tax bill and maximize total income. A new report by the Institute of Tax and Economic Policy says that in 2020, 55 major companies paid $0 in federal income tax despite collectively earning over $40 billion. See: Consumer Services, Energy and Communications Lead Zero Income-Tax List The 55 companies identified by the non-profit think tank are among some of the best known brands in the world. In the consumer services section alone, companies like Charter Communications (the parent of Spectrum Internet), Dish Network, FedEx, HP and Nike all either paid $0 in taxes or received a refund.

The Party Does Seem Like It s Over : Biden Tax Plan To Hit Tech And Pharma Hardest

The Party Does Seem Like It s Over : Biden Tax Plan To Hit Tech And Pharma Hardest by Tyler Durden Wednesday, Apr 07, 2021 - 12:45 PM It looks as though technology and pharmaceutical companies could be hit the hardest from President Biden s proposed tax hikes. Regardless, even after the changes are made, regulators are going to have their hands full in trying to minimize loopholes to get around the new changes.  Most assets at companies like pharmaceutical companies or technology companies are intangible assets like IP and patents. This makes it easier for these companies to structure their operations in tax-friendly ways because they don t have to move anything to move their headquarters and, ergo, their tax treatments. 

Nike Among Corporations Paying No Federal Income Taxes Since 2018

Nike Among Corporations Paying No Federal Income Taxes Since 2018 5 Apr 2021 Multinational sportswear corporation Nike is among at least 26 corporations that have paid zero dollars in federal income taxes since 2018, a new report details. Analysis conducted by the Institute on Taxation and Economic Policy reveals that in 2020, at least 55 of the nation’s biggest corporations paid nothing in federal income taxes. Of those 55 corporations, 26 have paid no federal income tax since 2018. Last year, the 55 corporations enjoyed close to $40.5 billion in pre-tax income, according to the analysis. The corporations would have paid $8.5 billion collectively if they had paid the 21 percent tax rate for corporate profits.

Nike Zero Federal Income Tax Past Three Years

Nike Zero Federal Income Tax Past Three Years
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