How Corporations Avoid Paying Taxes

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Vol 49 Issue 16

Lakers vs. Spurs

The Lakers face the Spurs in the first round of the NBA playoffs, reigniting a rivalry not quite as old as most of the players involved.

Louis Charles

Louis Charles, 17, added a little water to the nearly empty mustard bottle so his parents wouldn’t be able to tell he took some.
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How Corporations Avoid Paying Taxes

With Monday marking the income tax filing deadline in the U.S., there has been renewed interest in how some of the nation’s top corporations manage to pay just a small fraction of their earnings in taxes, sometimes owing nothing at all to the government. Here are some leading corporations’ tricks for minimizing their tax bills:

  • McDonald’s: Over 500 locations in major metropolitan areas classified as churches
  • Fisher-Price: Only employing war veterans
  • ExxonMobil: Investing in green technology by the hundreds of dollars
  • Nabisco: Claimed this year’s batch of Wheat Thins didn’t turn out well and lost the company millions, even though everyone knows this year’s batch was excellent
  • Hostess Brands: Chapter 11 bankruptcy
  • Kraft Foods: Underreporting net profits by claiming cost of producing each slice of cheese is $600,000
  • NBC: Consistently making and airing terrible programming that hasn’t earned company a single dollar in profit since 2003
  • The Boeing Company: Using 1040EZ form
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