The Institute on Taxation and Economic Policy (ITEP) made news reporting on the 55 profitable corporations that paid nothing in federal income taxes for 2020. ITEP followed that report by taking a longer look at the three-year period following passage of the Tax Cuts and Jobs Act to find that 39 profitable corporations paid no federal income taxes over those three years and another 73 that paid less than half the statutory rate of 21 percent–combining for an effective rate of just 5.3 percent. See the full list that details who these companies are and how they get away with paying less than their fair share of taxes.
Corporate Tax Avoidance Under the Tax Cuts and Jobs Act
Institute on Taxation and Economic Policy, July 29, 2021
Corporate Tax Avoidance Under the Tax Cuts and Jobs Act
Institute on Taxation and Economic Policy, July 29, 2021