Who Bears the Burden?

In case you missed it, the GAO released a study about whether foreign corporations were being taxed less then domestic companies. In doing so, we got a good glimpse at how little taxes large corporations pay.

“Large” corporations are those with at least 250 million in assets of 50 million in gross receipts. The study showed that between 1998 and 2005:

• 55% of Large US Corps paid no taxes for at least one year between 98-05.
• 10% of Large US Corps paid no taxes for a 2 year period between 98-05
• In 2005, Large US Corps were 25% of those with zero tax liability, though gross receipts of 303 million.

There’s more, of course. You can read the report here.