BIG CORPORATIONS 

J tax

A Journal of People report

Fifty-five of the biggest U.S. companies paid $0 in federal taxes or no tax last year, found a new study from the Institute on Taxation and Economic Policy (ITEP).

Despite raking in billions, Nike, Duke Energy, FedEx, and other public companies have paid no federal corporate income tax in the U.S. since 2018, according to the study.

The 55 publicly traded companies would have paid an estimated $12 billion in federal taxes if not for corporate tax breaks in 2020, including $8.5 billion in tax avoidance and $3.5 billion in tax rebates, the report found using regulatory filings and other information.Read More »