"Boeing, one of the companies cited by IPS, responds that the report is “simply wrong.” A spokesman says that Boeing paid $360 million in federal, state and local taxes in 2010, most of which was federal.” (IPS put the figure at $13 million.) “The [IPS] report attempts to present the accounting value known as tax expense as the actual amount of federal income tax paid to the government by a company in a given year. In doing so, it misstates by a factor of more than 20 the amount of federal income tax Boeing paid in cash in 2010.”
EBay is equally critical of the IPS study, calling it “grossly inaccurate.” A spokesman says eBay paid $646 million in taxes around the world in 2010, mosty in the U.S. and that “IPS has misrepresented our financial reports, and made no attempt to verify the facts with us before publishing inaccurate information.”"
-“The [IPS] report attempts to present the accounting value known as tax expense as the actual amount of federal income tax paid to the government by a company in a given year"
Do you really think that anyone is going to release any study that will be reviewed by the market and peers that wasn't verifiable? Come on Guru that is ridiculous. If I recall Citi still is deep in debt to the US taxpayer... If you don't think this is ludicrous then we can definitely agree that we disagree. Corps are making record profits and paying no tax? No wonder we find ourselves at the edge of the fiscal cliff. jmnsho