Apple CEO Wants to Repatriate Cash, at Lower Tax Rate
Apple pushes for a major tax change that it says will boost the U.S. economy: CEO Tim Cook plans to call on Congress next week to dramatically simplify corporate tax laws.
corporate taxes
The Big Companies Paying the Most in Taxes -- and the Least
The federal corporate tax rate is 35% but that's not what most big companies pay, and the disparities can be huge: Some pay billions, while others pay nothing.
10 Companies That Pay the Most Taxes
You’ve probably seen reports on big companies that pay surprisingly little in federal taxes, due to loopholes and accounting gimmicks. Thanks to the website 24/7 Wall Street, we have a list of the 10 companies that pay the most in corporate taxes.
U.S. Companies Park Profits Overseas, Avoid Taxes
Large American companies are parking more of their profits overseas. A Wall Street Journal analysis found that 60 big companies shielded more than 40 percent of their annual profit from U.S. taxes.
Facebook Posts Record Profit, Gets Huge Tax Break Anyway
Last year, Facebook went public and brought in record profits exceeding $1.1 billion. And yet, not only will the ubiquitous social network not be paying any taxes, it will be getting a huge tax break.
Here's a Corporate Tax Loophole a Porsche Could Drive Through
America used to stand alone among Western nations when it came to corporate tax-dodging. No more: Just as we've exported Hollywood and fast food to the world, we're apparently exporting that aspect of our culture too: Witness how Volkswagen and Porsche are beating one big tax bill.
Many Fortune 500 Firms Pay Less in Income Taxes Than You
It's widely known that millionaires and billionaires pay taxes at a lower rate than those of us who make much less. But did you know that Americans collectively pay far higher income tax rates than many U.S. companies with billions of dollars in profits?
30 Top Companies Spent More on Lobbying than Taxes
Thirty large American corporations -- all of them profitable -- spent more money on lobbying than they paid in federal taxes from 2008 to 2010, according to a report from the nonpartisan reform group Public Campaign.
Retail Launches Its Own Job Growth Policy Campaign
With the 2012 election season looming, the retail sector is getting vocally political for the first time. The National Retail Federation has launched "Retail Means Jobs," a year-long, $10 million advocacy campaign designed to push for retail-friendly policies in Washington.
Top CEOs Earn More Than Their Firms Pay in Taxes
Twenty five CEOs of America's top companies earned more money than their companies paid in taxes last year, according to the Institute for Policy Studies' Executive Excess report. See which firms and CEOs made the list.
What Was Wall Street Thinking Last Week?
Some Street-related dispatches from last week's entry in the Human Comedy: Kim Kardashian filed a silly sounding but well-grounded lawsuit against Old Navy's use of a lookalike; gaming magnate Steve Wynn went all FOXNews on a conference call; and Barnes and Noble surged, nonsensically, on Borders' liquidation.
Will Budget Battle End With a Tax Increase?
Republicans pushing for spending cuts in the 2011 federal budget may be ready to shut the government down to get their way. But is anyone ready to do what it would take to really make a dent in the federal budget: raise taxes on the rich and close corporate tax loopholes?
Getting to Zero: How Congress Could Balance the Federal Budget
It took about 10 years of decisions for the federal budget to get more than a trillion dollars out of whack, and it's going to take at least five years to balance it again. The only way to do it is piece-by-piece, with equal sacrifices from both Republicans and Democrats.
Budget Deficit Unexpectedly Narrowed in October
The U.S. government started the new fiscal year on the right foot, posting $140.4 billion deficit in October, the first month of the new fiscal year. That was substantially lower than the $148 billion deficit that had been forecast.