Who Knew?
GAO Says U.S., Foreign Firms Escaped Income Tax

Most American and foreign corporations operating in the United States paid no income tax between 1996 and 2000, government auditors said.

Using data collected by the Internal Revenue Service, the auditors found that 71 percent of foreign corporations paid no federal income tax. During the same time, 61 percent of American corporations paid no income tax.

Among the largest corporations, U.S. businesses were more likely to avoid taxation than foreign businesses.

The study was done by Congress's General Accounting Office.

http://www.washingtonpost.com/wp-dyn/articles/A46725-2004Apr2.html