2007/04/16/New Research Shows Wal-Mart Rigs the System

title/short::New Research Shows Wal-Mart Rigs the System Wal-Mart appears to be skipping out on its fair share of taxes that most Americans have to pay to help support state governments. New research conducted in part by a leading non-partisan, non-profit tax organization reveals that Wal-Mart avoided $2.3 billion in state income taxes, cutting its payment to state governments almost in half between 1999 and 2005:
 * when: when posted::2007/04/16
 * author: author::
 * source: site::Citizens for Tax Justice
 * topics: topic::Wal-Mart topic::corporate welfare
 * link: URL::http://www.ctj.org/pdf/walmart041607.pdf
 * title: title::New Research Shows Wal-Mart Rigs the System to Skip Out on $2.3 Billion in State Taxes
 * summary: Wal-Mart appears to be skipping out on its fair share of taxes that most Americans have to pay to help support state governments. New research conducted in part by a leading non-partisan, non-profit tax organization reveals that Wal-Mart avoided $2.3 billion in state income taxes, cutting its payment to state governments almost in half between 1999 and 2005.
 * Over those seven years, Wal-Mart reported $77.4 billion in pretax U.S. profits to its shareholders. But it reported a total state income tax bill of only $2.4 billion, just 3.16% of those profits.
 * Had Wal-Mart paid taxes at the statutory state corporate tax rates for the same period, it would have paid $4.7 billion in state income taxes.