Printer Friendly

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.
COPYRIGHT 1993 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Journal of Accountancy
Article Type:Brief Article
Date:May 1, 1993
Words:103
Previous Article:CFOs continue to hire accounting personnel.
Next Article:More corporate controllers turn bullish.
Topics:


Related Articles
Testimony on the impact, effectiveness, and fairness of the Tax Reform Act of 1986 before the Committee on Ways and Means U.S. House of...
AICPA comments on proposed transfer pricing rules.
Inheritance planning: a necessary part of estate and gift tax planning.
The accumulated earnings tax: a practical approach to a subjective assessment.
Investing in Eastern Europe through hybrid entities can ease U.S. FTC problems.
Supreme Court Holds Alabama Foreign Franchise Tax Unconstitutional TEI, Others Had Urged Court to Invalidate Tax.
Massachusetts uses LLP structure to avoid MBT problems. (State & Local Taxes).
TEI comments on Dutch treaty protocol: July 8, 2004.
Charlotte Cuno, et al., Plaintiffs-Appellants v. DaimlerChrysler Corp., et al., Defendants-Appellees: on appeal from the United States District Court...
Statement before Senate Foreign Relations Committee on Dutch and Barbados treaties: September 24, 2004.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters