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Report: PPL, Air Productts avoid federal taxes

By 69 News, (follow: @69news), news@wfmz.com
Published On: Feb 28 2014 12:34:02 PM CST

Study companies avoid federal taxes

A new comprehensive report says more than a hundred Fortune 500 companies ... including a couple from our region are avoiding federal corporate taxes.

The study was conducted by Citizens for Tax Justice and the Institute on Taxation and Economic Policy using information from a five-year period starting in 2008.

The report says 111 out of the 288 companies studied paid zero at least once in the past five years.

The study says PPL has paid 3 percent in taxes over the five-year period and paid zero in taxes three  times.

The study says Air Products paid zero in taxes in one of the years.

Air Products issued a statement saying it meets its legal tax obligations and officials say they don't know where the groups got their information for the study.

A spokesman for PPL said the company doesn't have anything to say about the report but he said PPL is a responsible and ethical company that pays a wide range of state, federal and foreign taxes.