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 »

Universities Should Distance Themselves from Nike, But Here’s Why They Won’t

LA Progressive | December 01, 2017

 

Workers pack shoes at a Nike factory in Tangerang in West Java province August 2, 2007. (Photo: Reuters, Crack Palinggi)

Last weekend’s PK80 celebration—a 16-team college basketball tournament in Portland, Oregon—was organized to honor Phil Knight on this 80th birthday. If you watched ESPN’s coverage of the games, then you experienced a big dose of homage paid to Knight, including Bill Walton’s effusive adulation for Knight and his corporate success.

And why not? Knight has been responsible for putting big money in the pockets of universities and head coaches. Nike executes exclusive contracts with schools—“Nike schools” they’re called—to outfit schools with Nike equipment and manufacture merchandise with the “Nike swosh.”

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