Boeing, Second Largest Federal Contractor, Pays No Federal Income Tax in 2013

It's refueling with your tax dollars.

It’s refueling with your tax dollars.

 

Boeing is working the system from every angle. From sweet taxpayer funded defense contracts to the sweet taxpayer funded Export Import Bank which subsidizes its civilian efforts, to only God knows what else, Boeing gets crony capitalism. It’s a master.

Since the taxpayers pad the bottom line of the company I guess we shouldn’t get too bent out of shape when we hear that Boeing’s effective federal tax rate was -1.4%.

I love it when GE and Boeing and these other huge government contractors who happen to have close relationships all over Capitol Hill pay less in taxes in absolute terms than the typical US household.

I’m all for reducing the tax burden for business, but if your business exists because of the taxpayer, if your company is actively courting politicians for contracts paid for by other people paying taxes, well that’s a different equation.

(From ForEffectiveGov.com)

Since 2008, Boeing has reported between $1.6 billion and $5.9 billion in profits each year, and yet has paid no federal income taxes in three of those years. Over the last six years, Boeing has reported $26.4 billion in pre-tax profits to its shareholders, while claiming a total of $105 million in refunds from the IRS, an effective tax rate of -0.4 percent.

With $20 billion in sales to the federal government in fiscal 2013, Boeing was the nation’s second largest contractor.  Boeing alone received 4.4 percent of all federal government contracts last year. Boeing reported to shareholders that 34 percent of its 2013 sales were made to the U.S. government.

Click here for the article.

256 comments
TEA Patriot
TEA Patriot

What a bunch of morons posting here.  Before you type some idiocy, please understand the system.  Your comments show your stupidity and ignorance about the subject.  If you can't say something smart, then don't say anything at all.


Boyd Morgan Thompson
Boyd Morgan Thompson

I will bet that they reduced their tax load by claiming alll of the required programs they handle a tax deductions and just whittle away the money they should spend.

Todd Anderson
Todd Anderson

Welcome to the world in which we live!!...Where we are told about our having among the highest tax rates among "first world nations", but no one bothers to say that NONE of the corporations actually pay those rates!!...Sad!...When will we "wise up"?!?!?...

Mitch Clem
Mitch Clem

Tony Reddy...take your head out if your arse. Obama is deficit spending at nearly TWICE the rate Bush did and most conservatives don't think Bush was a good President. Your hero Obama has been President 5 years. He owns the lousy economy and the deficit. Get over Bush. Even conservatives don't want another Bush in the WH.

William Haase
William Haase

Hope and change? Or people are stupid and I can take advantage of them as long as I give them what they want.

William Haase
William Haase

Who is paying for that $10.10 federal increase of the minimum wage?

Mitch Clem
Mitch Clem

Blow it out your a## Robin Stoper. A) Boeing puts $ in the coffers of BOTH parties. B) Obama lovechild GE doesn't pay taxes either C) the Tea Party abhors crony capitalism D) don't ever use the term "teabagger" within arm's reach of people who believe in less government in our lives or you just might get your a$$ kicked.

Tony Reddy
Tony Reddy

thanks Obama - surely you jest!!!! - Bush tax cuts and two wars destroy the economy and blast the deficit

Gary E. Webb
Gary E. Webb

Corporations and companies shouldn't pay taxes. Read The Fair Tax and be enlightened.

Evalynn Wheeler Mills
Evalynn Wheeler Mills

Businesses don't pay taxes. Those taxes are passed on to you and I. Sssoooo, I'm fine with Boeing not paying taxes.

Michael Miedzianoweski
Michael Miedzianoweski

If the big companies paid their fair share in taxes we wouldn't be in such a mess!

Gary St Gemme
Gary St Gemme

Amazing what lobbyist can do for a struggling federal contractor!

Steven Chambers
Steven Chambers

Must have the same deal as GE, The NFL, MLB, NBA and the NHL. Sweet

taxpayer02
taxpayer02

And to think I am busting my butt, trying to set up a payment plan, to re pay my taxes....between people like boeing and the NFL being tax exempt, I'd really love to tell the IRS to kiss my  butt....but, of course, that won't happen....ugh

Jackie Hart
Jackie Hart

This is not news GE hasn't paid taxes for years and remember he is big buddies with BHO. The only up side they have provided good paying jobs.

Martin Woros
Martin Woros

more pain for me and you, and not one more job created

Libby Wilson
Libby Wilson

Need to do a flat sells tax where everyone pays.Then we can disband the IRS.

Debbie Howell
Debbie Howell

How's that trickle down shit working now???????????

John Ebert
John Ebert

It's the wealthy who set the agenda!

Bruce Kaylor
Bruce Kaylor

GE one of the democrats' biggest campaign contributors has been said they do not pay any federal taxes either. GE was also one of the first large corporations to go abroad for cheaper labor, and Heinz corporation too. Heinz is the family Kerry married into.

Robin Soper
Robin Soper

The Tea Party faction of the GOP is the ONLY reason this TAX EVASION is happening - "taxed enough already" says Boeing and teabaggers want to cut taxes and services EVEN MORE. Stand strong Obama and freedom loving Americans. Down with Crony Capitalism.

Dustin Divinia
Dustin Divinia

Two comments, 1. Tax evasion may be illegal, but tax avoidance is a worthwhile endeavor. 2. Businesses are tax collectors, not payers. They pass taxes collected from them on to the consumer, in this case to the airlines, then to you and me. If they were getting a subsidy of some kind I'd cry foul play, but legally not paying more taxes is a good thing as far as I am concerned.

Michael Randall
Michael Randall

I'm against all taxes, but taxing businesses is probably the worst, because businesses won't/can't pay taxes. Taxes to a business are a cost, so they will always raise prices (or lower quality) to cover them. In other words, business taxes are always passed on to the consumer. Statists hide taxes in inflation, borrowing, and business taxes. Don't help them perpetuate the myth of "greedy businesses".

Ray Cote
Ray Cote

It got a refund for overpaying taxes the year before. The article also ignores $1.5 billion in deferred taxes that Boeing will pay.

Ray Cote
Ray Cote

Taxes are a drag on the economy. They divert funds from productive uses to government waste.

Ray Cote
Ray Cote

Ace, that paper is only valid if you were wearing powdered wigs at the time of signing.

Ann Austin
Ann Austin

And the dems claim the other side is for big business. ..

Holly Dutton
Holly Dutton

A simple, manageable flat tax of 10 percent would be better than the cumbersome system we have endured for so long.

W Allan Goode
W Allan Goode

They need to contribute to the nation as do we all...

Joe Marshall
Joe Marshall

OK, let's see, Boeing got a Tax Refund of $105 Million on Pre-Tax net profit of $26.4 Billion over the last 6 years. When you get a tax refund, where does that money come from? RIGHT! You over paid your taxes, the government used your money for a year before you asked for it back. Corporations pay an estimated tax every quarter, and, like you, if they over pay, they get a refund. If I went through this article and explained all the accounting nuances they used to tweak it the way they have, I would be writing for another hour and I need to hit the sack. Not defending anyone but when they refer to the CEO's compensation in 2012 was $27 Million, he was not just handed a check for that, as is normal in that kind of situation, the bulk of that would have been stock options, ie; the ability to buy certain amounts of stock at certain times at a given price. In regards to the authors of the article, I will say what I say to everyone on both sides; "Figures do not lie, but LIARS always figure."

Patricia Bertel
Patricia Bertel

That is absolutely insane. People are starving and these corporations go untouched. Bullshit!

Danny Baker
Danny Baker

Boeing should have to pay no income taxes as we should not.

Larry K Siders
Larry K Siders

Profits are paid out to stock holders. Some of which are union pensions.

Larry K Siders
Larry K Siders

Boing pays very good wages and salaries which are taxed.