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April 29, 2022

19 of Most Profitable U.S. Corporations Pay Little or No Income Tax
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A new analysis of Fortune 100 investor filings shows that 19 of the most
profitable corporations in the United States are paying little or no
federal income tax. The Center for American Progress found AT&T and Dow
Inc. paid zero federal income taxes last year - despite nearly $30
billion in earnings, AT&T reported a tax refund of $1.2 billion.
Meanwhile, Amazon, Exxon Mobil, Verizon, JPMorgan Chase, Bank of America
and others paid extremely low tax rates.

In related news, shares of Meta - the parent company of Facebook and
Instagram - rose by over 17% Thursday, making founder Mark Zuckerberg
nearly $11 billion wealthier in just one day.


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