FirstEnergy Hits Back at Report About Corporations With No Federal Income Tax for 2020

摘要

FirstEnergy Corp, is among 55 major American corporations that legally did not pay income taxes in 2020, according to an April report by the Institute on Taxation and Economic Policy. “The tax-avoiding companies represent various industries and collectively enjoyed almost $40.5 billion in U.S. pretax income in 2020, according to their annual financial reports. The statutory federal tax rate for corporate profits is 21 percent. The 55 corporations would have paid a collective total of $8.5 billion for the year had they paid that rate on their 2020 income. Instead, they received $3.5 billion in tax rebates,” the institute wrote in a press release.