A pro-business lobbying group is disputing the claims in a recently released report that found some of the most profitable corporations avoiding billions of dollars in state taxes.
The advocacy groups Citizens for Tax Justice and a related organization, the Institute on Taxation and Economic Policy, released a study Wednesday that found 68 of the most consistently profitable Fortune 500 companies paid no state corporate income taxes in at least one of the last three years, and 20 of the companies averaged a tax rate of zero or less from 2008-2010 (see Corporate Tax Avoidance Cost States $42 Billion).
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