Study: Largest Corporations Suffer under New Tax Code
WASHINGTON (AP) - The new federal income tax overhaul will raise effective rates on the largest corporations by about 20 percent but one-third of the profitable companies that have been able to avoid taxes altogether will continue to do so, an analysis disclosed Thursday.
``The 1986 Tax Reform Act is a step in the right direction but it is not the end of the road,'' Thomas F. Field, head of Tax Analysts, a non-partisan research organization, told reporters in releasing the study.
The analysis concluded that the new law, when all provisions become effective in 1988, will narrow considerably the gap between the highest- and lowest-taxed corporations. Had the …
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Publication information: Article title: Study: Largest Corporations Suffer under New Tax Code. Contributors: Not available. Newspaper title: THE JOURNAL RECORD. Publication date: December 5, 1986. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.
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