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Corporate tax burden more than twice common stock earnings.

Corporate taxes in 1991 for 159 major corporations that report on total taxes averaged 211% of their common stock earnings, according to a survey conducted by the Fund for Stockowners Rights, a Washington, D.C., research group.

The survey also found another 21 corporations that paid taxes of $4.9 billion for 1991 even though they reported total losses in excess of $8.6 billion for that year.

In releasing the results of the survey, spokesmen for the research group said the reported tax burden was understated, since many companies do not break out taxes paid on corporate purchases, leases and construction projects.
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Publication:Journal of Accountancy
Article Type:Brief Article
Date:May 1, 1993
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