Many Companies Avoid Income Tax, Audit Finds
From Times Wire Reports
Most American and foreign corporations operating in the United States paid no income tax between 1996 and 2000, government auditors said Friday.
The General Accounting Office auditors found that 71% of foreign corporations paid no federal income tax. During the same time, 61% of American corporations paid no income tax.
Among the largest corporations, American businesses were more likely to avoid taxation than foreign businesses.
