Large companies find ways to a zero tax rate

Large companies find ways to a zero tax rate:

"The news comes months after after the Government Accountability Office released a report showing that companies in 2010 reported an average effective tax rate of 12.6%, well below the 35% federal corporate tax rate.

Corporate giants such as telecom firm Verizon, drugmaker Bristol-Myers Squibb and power management firm Eaton, all reported effective tax rates of 0% during the past 12 months. The findings underscore that while many companies bellyache about the top federal income tax rate of 35%, in reality, many pay much less than that, says Nick Yee of Gradient Analytics. "Investors hope company management is doing everything they can to generate profit, legally," he says. "But the tax code is gray, and there's often no set guidance.""



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