MOST COMPANIES DON’T PAY FEDERAL TAXESWashington, D.C. — Approximately two thirds of U.S. companies and foreign companies doing business in the U.S. paid no federal income taxes between 1998 and 2005, according to a new report. The Government Accountability Office found that over 38,000 foreign companies had zero tax liability in 2005, as did 1.2 million U.S. businesses — despite a combined $2.5 trillion in revenue for the companies.
Approximately a quarter of the U.S. companies that did not pay corporate taxes were large companies with at least
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