ITEP

Big surprise: fossil fuels win under tax reform

Analysis of the early post-tax reform data from large public companies suggests that many profitable firms are paying no federal income taxes, and often getting refunds.  Firms involved with fossil fuels have been big winners.  An April paper by the Institute on Taxation and Economic Policy in Washington, DC reviewed data on Fortune 500 firms.  They found 60 that paid zero federal corporate income taxes despite having significant pretax income.  Indeed:

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