Everybody is using G.E. as the model for a corporation paying no taxes when there is a good reason why G.E. is currently paying no taxes. Back during the meltdown years of 2008 and 2009 G.E. lost a lot of money on G.E. Capital Credit, their financing arm. So, G.E. is using prior losses to offset current gains until the amount of the losses is exhausted and they will return to paying corporate taxes again. What is interesting is that G.E. spun off G.E. Capital Credit which is now known as Ally Bank. Apparently the way the law is currently written, the losses didn't spin off with Ally, as G.E. has retained them as a carry forward item.
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