10 corporate tax dodgers you should know about

[unhappycamper]

http://www.rawstory.com/rs/2014/08/23/10-corporate-tax-dodgers-you-should-know-about/

10 corporate tax dodgers you should know about
By Moyers & Company
Saturday, August 23, 2014 2:51 EDT



Bank of America runs its business through more than 300 offshore tax-haven subsidiaries. It reported $17.2 billion in accumulated offshore profits in 2012. It would owe $4.3 billion in US taxes if these funds were brought back to the US.



Citigroup had $42.6 billion in foreign profits parked offshore in 2012 on which it paid no US taxes. It reported that it would owe $11.5 billion if it brings these funds back to the US. A significant chunk is being held in tax-haven countries.



ExxonMobil had a three-year federal income tax rate of just 15 percent. This gave the company a tax subsidy worth $6.2 billion from 2010-2012. It had $43 billion in offshore profits at the end of 2012, on which it paid no US taxes.





General Electric received a tax subsidy of nearly $29 billion over the last 11 years. While dodging paying its fair share of federal income taxes, GE pocketed $21.8 billion in taxpayer-funded contracts from Uncle Sam between 2006 and 2012.

[orpupilofnature57]

1. Informative as always, Thanks .

[yeoman6987]

7. We need to add Hollywood

In general too. I could not believe the crying with House of Cards in Maryland about having to pay taxes and the California is ready to increase the tax breaks to stop movie companies from leaving the state. Unbelievable!

[orpupilofnature57]

8. Not the Misanthropy of Wealthiest paying the least .

[cstanleytech]

2. While I dont like the companies doing this I wonder is it losing the US as much money

as the mega tax breaks to the 1% which never panned out into any jobs at all?

[bahrbearian]

6. After hearing that Microsoft is hiding billions off shore

to avoid paying taxes on it, because its foreign profits. I say fine lets make Bill Gates cover it.

[SunSeeker]

3. K & R

[Dustlawyer]

4. If Uncle Sam doesn't watch it, those billions in lost taxes might add up to something!

Sarcasm, for the sarcastically challenged.

[TBF]

5. ...