Nearly a fifth of profitable U.S. corporations pay no federal income taxes.That s according to a new analysis by the U.S. Government Accountability Office, which was asked to explore the issue of corporate taxes by Sen. Bernie Sanders. In 2012 the most recent data available , 19.5 percent of larger companies -- defined as those with at least $10 million in assets -- that reported earnings paid no income tax that year, the GAO found.Overall, including businesses that didn t report a profit, roughly two-thirds of all larger companies in the U.S. had no federal income tax between 2006 and 2012. There is something profoundly wrong in America when one out of five profitable corporations pay n <a href=https://www.cups-stanley.ca>stanley tumbler</a> othing in federal income taxes, Sanders, a candidate for the Democratic presidential nomination, said in a statement. Large corporations cannot continue to get more tax breaks when children in America go hungry. We need real tax reform to ensure that the most profitable corporations in America pa <a href=https://www.stanley-quencher.uk>water bottle stanley</a> y their fair share in taxes. That means closing corporate tax loopholes <a href=https://www.stanley-cups.co.uk>stanley uk</a> to raise the revenue necessary to rebuild America and create millions of jobs. GAO The GAO said there were several reasons why profitable businesses may not have owed taxes. Companies that lose money one year are allowed to carry forward the losses for accounting in future years, reducing their tax liabili Jsli Former CIA museum curator highlights the agency s most important artifacts - transcript
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