Rare News Desk
There are 27 companies on Standard & Poor’s 500 that did not pay any income tax in 2015, despite reporting pre-tax profits.
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USA Today analyzed data from S&P Global Market Intelligence looking only at profitable companies — since companies that didn’t make money wouldn’t be expected to pay taxes.
Some reasons profitable companies don’t pay taxes include: receiving tax credits for years of losses and the company’s location. Many companies have been criticized for moving overseas to take advantage of lower tax rates.
Listed below are the companies and their pre-tax profits:
Level 3 Communications: $283,000,000
United Continental: $4,219,000,000
American Airlines: $4,616,000,000
General Motors Co.: $7,718,000,000
Hewlett-Packard: $1,470,000,000
Amerisource Bergen: $274,000,000
E*Trade: $91,000,000
Qorvo: $121,200,000
Microchip Technology: $345,900,000
Thermo Fisher Scientific: $1,936,400,000
Loews: $244,000,000
General Growth Properties: $1,355,300,000
Willis Towers Watson Public: $351,000,000
XL Group: $1,294,200,00
Legg Mason: $368,000,000
Citrix Systems: $311,900,000
First Solar: $540,300,000
Weyerhauser: $503,000,000
PG&E: $847,000,000
Xerox: $547,000,000
News Corp.: $56,000,000
Macerich: $519,700,000
