Table: Big Profits, Low Taxes

Despite a U.S. corporate tax rate of 35%, some profitable companies have taken advantage of loopholes to pay little or no tax. Examples from some of the most recently available filings include:

1996-2000 -------------------------------- PRETAX U.S. FEDERAL PROFIT* INCOME TAX** (millions) (millions)

ENRON $1785 $-381 EL PASO ENERGY*** 1638 -254 GOODYEAR*** 442 -23 COLGATE-PALMOLIVE 1637 -21 NAVISTAR 1368 28 GENERAL MOTORS 12,468 740 GENERAL ELECTRIC 50,865 5846

* Pretax U.S. profit is based on net domestic income. Adjustments have been made for items such as "acquired in-process research" and goodwill write- offs in excess of the amount claimed for tax purposes. ** Tax is current taxes paid, excluding deferrals and stock options. *** Reported losses for some years during the period.

Data: Institute on Taxation & Economic Policy, Citizens for Tax Justice, company annual reports

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