[AVGWarhawk]

Originally Posted by mookiemookie

You have to be careful with statistics about this. If you look at something that says "X number of corporations didn't pay income tax" be careful that it doesn't include S corps, as they never pay income tax, by definition. The tax liability for the profits made by S corps flow through to and are divided amongst the shareholders to be reported on their individual tax returns.

This is a sampling, but 26 profitable Fortune 500 companies paid no taxes or actually got a rebate every year since 2008:
http://www.ctj.org/pdf/notax2012.pdf

And of course any company that loses money can carry those losses forward to be deducted from profits made in any of the next seven years. And those losses are transferable/saleable to another company in the case of bankruptcy, too.

I know more about this stuff than I care to, lol.

Deferred taxes.