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Murdoch's News Corp. Received Billions in U.S. Tax Refunds

By: weco in FFFT | Recommend this post (0)
Thu, 14 Jul 11 9:38 PM | 88 view(s)
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Murdoch's News Corp. Received Billions in U.S. Tax Refunds

After digging through News Corp.'s financial disclosures, Reuters' David Cay Johnston reports that based on the company's $10.4 billion profits during that time period, the company would have been expected to pay $3.6 billion at the 35 percent corporate tax rate. But instead the company managed to collect $4.8 billion in income tax refunds, "all or nearly all from the U.S. government."

http://org2.democracyinaction.org/dia/track.jsp?v=2&c=uyIXgx8c7SpV%2FeXqfcKeyFE1VuGoTZ9v

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