Report Says 26 U.S. Companies Have Negative Average Federal Income Tax Rate - ABC News

Report Says 26 U.S. Companies Have Negative Average Federal Income Tax Rate - ABC News: "In November, the liberal lobbying group Citizens for Tax Justice stirred controversy with a report highlighting 280 so-called corporate tax-dodgers, highlighting companies they said were paying under the 35 percent federal income corporate tax rate. This week, the group revised its list with new data and said most of the companies that paid no taxes previously repeated that in 2011.

The latest update estimates that all but four of the 30 Fortune 500 companies that paid an average negative federal income tax rate from 2008 to 2010 continued to do so for 2011. Among the companies listed are Pepco Holdings and General Electric."

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