By Andrew Emett Unlike average Americans and small businesses, U.S.-based multinational corporations armed with legions of lobbyists have manipulated the law into allowing their Fortune 500 companies to operate under a completely different set of rules. With Congress allowing these corporations to set up offshore tax havens, a new study found that nearly 75% of the Fortune 500 avoid an estimated $90 billion in federal income taxes each year.
On Tuesday, the U.S. PIRG (Public Interest Research Group) Education Fund and Citizens for Tax Justice released a scathing report accusing Fortune 500 companies of holding over $2.1 trillion in accumulated profits offshore to evade …read more
Source:: http://thefreethoughtproject.com/75-fortune-500-companies-avoid-paying-taxes-this/