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General Electric Paid No Federal Taxes in 2010
By JAKE TAPPER, ABC News
http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/story?id=13224558
"The top tax bracket for U.S. corporations stands at 35 percent, one of the highest rates in the world. So how is it possible that a giant of American business, General Electric, paid nothing in federal taxes last year, even as it made billions in profit?"
"GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes ..... In fact, GE got a $3.2 billion tax benefit."
"GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes ..... In fact, GE got a $3.2 billion tax benefit."