Title: Boeing Paid No Federal Income Tax Last Year: Analysis | HuffPost
Headings: Boeing Paid No Federal Income Tax Last Year: Analysis
Boeing Paid No Federal Income Tax Last Year: Analysis
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Content: Both are considered part of the company’s total tax expense: While it’s true that the Center for Effective Government analysis doesn’t include Boeing’s deferred taxes, Gardner characterized them differently. “ Deferral technically means that you’re postponing tax, that this tax will be paid some day,” he said. “ They are essentially shifting taxes forward indefinitely.” Boeing’s not alone in using corporate tax breaks to its advantage, and Gardner noted that they’re doing nothing that’s illegal in any way. In fact, Boeing is not known for engaging in some of the more notorious “creative accounting” practices, like moving profits offshore to avoid paying U.S. taxes on them. “We know that an awful lot of Fortune 500 corporations have found ways to zero out their taxes in a lot of years,” Gardner said. “ [ Boeing is] doing what the tax law allows them to do. At the same time, we know that other companies are being inventive — they’re creating their own tax breaks.” Still, the company’s sheer scale has allowed it to score some major tax concessions.