A total of 91 of the largest companies in the United States paid zero dollars in federal income taxes in 2018 under the tax law passed by Donald Trump and his Republican allies in Congress.
A new analysis released by the Institute on Taxation and Economic Policy (ITEP) on Monday found that Fortune 500 companies were able to avoid at least $73.9 billion in taxes under the first year of the Tax Cuts and Jobs Act.
ITEP’s analysis found that companies like Amazon, Chevron, Halliburton, and IBM, who do billions of dollars in sales, paid no federal income taxes. They also found that 56 companies paid an effective tax rate between 0 percent and 5 percent.