Eighty-eight of America's largest corporations paid not a single dollar in federal income tax in 2025, despite collectively earning more than £80.5bn ($105bn) in US profits. At a time when the federal government is collecting more revenue overall, some of its most profitable companies are contributing nothing at all to the public purse.
That is the central finding of a report published on 14 April 2026 by the Institute on Taxation and Economic Policy (ITEP), a non-partisan research organisation based in Washington, DC. Authored by ITEP Senior Fellow Matthew Gardner and data analyst Spandan Marasini, the analysis draws entirely on SEC-mandated financial disclosures, meaning the figures are the companies' own admissions. The report arrives as the US Treasury confirms that corporate income tax receipts fell 14.7 per cent in 2025, a drop of approximately £59.6bn ($77.8bn) year-on-year, even as overall federal revenue grew 6 per cent.
