Death and taxes are supposed to be two certainties of life.
But a few companies have at least escaped the taxes part. Investors, though, don’t seem all that impressed.
There are 27 companies in the Standard & Poor’s 500, including telecom firm Level 3 Communications (LVLT), airline United Continental (UAL) and automaker General Motors (GM), that reported paying no income tax expense in 2015 despite reporting pre-tax profits, according to a USA TODAY analysis of data from S&P Global Market Intelligence.
Only profitable firms were included in the analysis since firms that lost money – like many energy companies – wouldn’t be expected to pay taxes.