In the third installment in our three-part series on corporate tax avoiders with strong connections to North Carolina, NC Policy Watch has released a profile of International Paper, Co.
Here are some of the fast and disturbing facts on the giant multi-national (the largest company of its kind in the world) that owns 18 separate facilities in North Carolina:
- Total assets $27 billion
- 2008-2012 profits combined: $2.8 Billion
- Net 2008-12 federal tax rate: 2.6% (the offical corporate tax rate is 35%)
- 2008-2012 federal taxes paid: $74 million (if paid at the 35% rate, this figure would have been $980 million)
- Five-year compensation of CEO John Faraci (as of April 2012): $49.3 million
Read more about International Paper (as well as two other large tax avoiders — Duke Energy and Merck & Co.) by clicking here.