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 To Read
September 28, 2023
Coming to a town near you—the EOI Policy Team!
To understand the needs and priorities of our state’s different regions, EOI is listening to the people and communities most impacted by our policy priorities.
September 12, 2023
Everyone Loses Under Washington’s Tax System
Except billionaires. And even they lose.
September 6, 2023
This Washington Shows That Washington: Proposed Federal Overtime Protections Can Go Further
Thanks to the work of advocates, thousands of Washington workers are already getting a better deal at work