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Originally Posted by Ruth4Truth
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Or you can just look at their financial statements as reported to the Securities and Exchange Commission.
They recorded a $5.7 billion dollar expense on $20 billion of pre-tax income in 2011. In 2010 the amounts were $1.0 billion and $14.0 billion respectively.
The credits in past years were due to either losses carried forward or the decision to NOT REPATRIATE income because of the high tax rate here.
ge10k.htm
The site I posted is a federal government site - not a politically-biased link like some people post.
There have been a few years GE paid no taxes or had a credit. Over the last 20 years they have paid billions in taxes.