Corporate taxes are very complex. I think that GE’s US federal income tax return is at least 10,000 pages. They incur large costs to minimize corporate taxes. I do not support crony capitalism in which corporations lobby for competititve advantage over their competitors. I am not sure how GE’s lobbying has obtained special tax breaks not available to other competitors. I am not condemming GE without a careful analysis of their tax return.
Corporate taxes are very complex. I think that GE’s US federal income tax return is at least 10,000 pages.
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Try 24,000 pages.
http://abcnews.go.com/Business/Tax/ge-exxon-paid-us-income-taxes-09/story?id=10300167