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Nike, HP and Other Large Corporations Got Away With Not Paying Any Federal Taxes on Their 2020 Profits At least 55 of America s largest companies avoided federal taxation last year by using certain tax breaks, some of which had been revived during the pandemic. Email April 5, 2021 2 min read As many as 55 of the U.S. largest corporations did not pay any federal taxes on their 2020 profits, according to the Institute on Tax and Economic Policy (ITEP).  The companies, which include Con Edison, Dish Network, FedEx, HP, Nike and Salesforce, reportedly made almost $40.5 billion combined in U.S. pretax income last year. Because of tax breaks under the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 CARES Act, they have been able to avoid federal income taxation for years, ITEP s report points out. Had the corporations paid the 21% federal tax rate for corporate profits, they would have shelled out $8.5 billion, it further adds. 

United statesUs labor bureau of statisticsInstitute on taxEconomic policyCon edisonDish networkJobs actMay be ableNews and trendsCorporate taxesTax breakஒன்றுபட்டது மாநிலங்களில்எங்களுக்கு தொழிலாளர் பணியகம் ஆஃப் புள்ளிவிவரங்கள்நிறுவனம் ஆன் வரிபொருளாதார பாலிஸீஏமாற்றுபவன் எடிசன்