Sunday, July 24, 2011

Institute For Wisconsin's Future Answers The Question: Who Does Not Pay Taxes?

The first in a new online series. Kudos to my former colleague Jack Norman for all his workL

Who Does Not Pay Taxes logo

New IWF newsletter names corporate tax avoiders

Associated Bank pays no state income tax; M&I just a trifle

Associated Bank—the largest bank based in Wisconsin—made $2.6 billion in profits in the years before the recession, yet didn’t pay a penny in state income tax.

M&I, newly sold to a Canadian bank, paid less than 1% on its pre-recession profits, despite a state tax rate of 7.9%.

These are the big tax-avoiding corporations featured in IWF’s new publication, WhoDoesNotPayTaxes? 

This monthly newsletter will provide details on companies not paying their fair share of taxes, as well as related news on tax policy in Wisconsin.

The goal is to help close the loopholes these businesses use to avoid their fair share of taxes and to help create a broader tax base for Wisconsin. This would help both finance vital public services and keep tax rates down for those who do pay a fair share.

Look for more naming names in the next issue. Click here for more information on WhoDoesNotPayTaxes?

1 comment:

John Casper said...

Thank you. This is a critical story.