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Our newest corporate tax avoider profile

Posted By Rob Schofield On April 12, 2013 @ 3:00 pm In Uncategorized | Comments Disabled

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 [1].

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 [1].

Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org

URL to article: http://pulse.ncpolicywatch.org/2013/04/12/our-newest-corporate-tax-avoider-profile/

URLs in this post:

[1] a profile of International Paper, Co: http://www.ncpolicywatch.com/2013/04/12/profiles-in-corporate-tax-avoidance-international-paper/

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