FedEx, Nike and Over 55 Corporations Failed to Pay Taxes in Three Years


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A new report conducted by the Institute on Taxation and Economic Policy has revealed that more than 55 big American corporations, including FedEx and Nike, failed to pay taxes in the last three years. The report found that despite billions of dollars earned by these companies in profits, they failed to pay taxes for some reasons that are justified in the face of the economic changes occasioned by the COVID-19 pandemic.

In 2017, President Donald Trump signed a tax bill that reduced corporate taxes from 35% to 21%, enabling hundreds of Fortune 500 businesses to even reduce their taxes to zero. This was made possible by several legal deductions and exemptions that are justified in the tax code.



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