U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study
Direct link to the report.Profitable companies with more than $10 million in assets paid an average rate of 12.6 percent of their global profits in 2010, the latest data available, according to a new study by the Government Accountability Office, a nonpartisan congressional watchdog. That compares to the statutory corporate tax rate of 35 percent.
Wonder how the US conservatives are going to explain this one away..... I am guessing they are going to target the GOA as partisan or something similar.