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Sydney Lupkin

Drugmakers' low U.S. taxes belie their high sales

Pfizer Brad Setser United States The United States NPR
The U.S. is the most lucrative market for drugmakers, but they often pay more in taxes overseas. (Jim Watson/AFP via Getty Images)

Tax day is here. While Americans are scrambling to file last minute returns, things are somewhat more complicated for corporations.

Corporations are supposed to pay a nominal tax rate of 21%. But in recent years, the biggest pharmaceutical companies had an average effective tax rate of less than 12%, according to an analysis by the Senate Finance Committee.

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