Boeing, Paccar had negative income tax rates 2008-10; Microsoft says pretax profits all overseas

Report: Corporate Taxpayers and Corporate Tax-Dodgers, 2008-10

A comprehensive study profiling 280 of America’s most profitable companies finds that 30 enjoyed a negative federal income tax rate from 2008-10 – including two with major operations in Washington state: Paccar (-30.5%) and Boeing (-1.8%). In total, 78 companies paid zero or less in federal income taxes in at least one year between 2008 and 2010 despite being profitable throughout this period.

Two other Washington “brand name” companies made the report:

  • Microsoft’s tax rate couldn’t be evaluated because the company reported most of its pretax profits as foreign – even though most of their revenues and assets are in the United States
  • Amazon.com paid an effective rate of just 7.9% from 2008-10, about one-third the average rate of a “married filing jointly” household earning between $16,750 and $68,000.

More from the Seattle Times »

Full Report from ITEP and CTJ »

  • Leave a Reply

Your email address will not be published. Required fields are marked *

More To Read

October 17, 2018

We’re Number 1!

For at least 22 years, Washington has had the highest taxes on lower-income people.

October 16, 2018

I’m Going to Tip Minority Servers More – and Whites Less

Racism and discrimination translate to lower tips for people of color

October 12, 2018

The Unemployment Rate Isn’t All That Matters

“Slack” is why wages are low even when unemployment is down