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Howard Barnet Quoted Regarding Low Effective US Corporate Tax Rate

Tax partner Howard J. Barnet, Jr. was quoted in Time Magazine’s electronic edition “Time Business” on February 6 regarding low US corporate tax payments. Mr. Barnet commented that large multinational corporations have many strategies to reduce their tax burden and favored industries have received tax incentives, so only a small subset of corporations actually wind up paying corporate taxes. He noted that the practical effect is to minimize the contribution of corporate income taxes to federal revenues.

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