The Madeleine Brand Show

The Madeleine Brand Show is a daily, two-hour program that looks at news and culture through the lens of Southern California. Hosted by Madeleine Brand

Large corporations pay less than average taxes

by The Madeleine Brand Show

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McKesson managed to pay no California taxes the last three years. Justin Sullivan/Getty Images

A new study by liberal organization CalPIRG looked at the effective tax rate for Fortune 500 companies and found that they largely avoid taxes through loopholes. States are loosing billions of dollars to crafty corporations that work the system. An example is McKesson, the health care company, they paid no taxes yet had profits of $3.1 billion over the last three years. Intel had profits of $23 billion yet also paid no taxes. KPCC's Steve Proffitt will explain the new report.

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