Thursday, November 20, 2014

Report: Walmart uses loopholes to avoid $1 billion in federal taxes

Posted By on Thu, Nov 20, 2014 at 10:19 AM

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A new report from the Americans for Tax Fairness concludes that Walmart is avoiding $1 billion in federal income taxes through loopholes and avoiding taxes on $21 billion in profits by holding the money outside the U.S.

The report says the company spent $32 million in a year on lobbyists who work to make the tax system more advantageous to the Arkansas-based retailer. It has also put $6.1 million into political campaigns since 2009.

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