According to a new study, dozens of America’s top corporations managed to get away with paying zero dollars in federal taxes last year. That list includes corporate giants like Amazon, Netflix, General Motors, Chevron, and Delta Airlines.
While corporations finding a way to avoid paying taxes is nothing new, it’s become easier than ever thanks to the tax cuts passed in late 2017, which slashed the corporate tax rate from 35 percent to 21 percent.
The Institute on Taxation and Economic Policy says the number of major corporations paying virtually no tax doubled from 30 to 60 in the last year, cutting corporate tax revenues by $204 billion.
Source: https://www.nbcnews.com/business/taxes/twice-many-companies-paying-zero-taxes-under-trump-tax-plan-n993046
