It could but then it would show that the effective tax was not 30% but 3% and there is a strong lobby in Washington against that.

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loeg 4 hours ago | parent [-]

You think public companies are just lying in their audited financial statements?

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randomtoast 4 hours ago | parent [-]

No, I think both of the following statements can be true at the same time:

1. The audited financial statement meets all requirements and is accurate according to the relevant definitions, stating that the effective federal tax rate is 30%.

2. They pay an effective federal tax rate of 3%.

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loeg 4 hours ago | parent [-]

I don't think those statements can be true at the same time, without significant qualifications on (2) in a way that make it meaningless. Certainly not the reasonable straightforward reading of the phrase.

	▲	randomtoast an hour ago \| parent [-]
		Maybe you are right, but maybe the significant qualifications are on (1) in a way that make it meaningless. There is a reason why large companies have entire departments dedicated to identifying and utilizing every available national and international tax loophole, all while working to maintain a positive public image.