GE: 7,000 tax returns, $0 U.S. tax bill - Apr. 16, 2010. By Annalyn Censky, staff reporterApril 16, 2010: 11:52 AM ET NEW YORK (CNNMoney.com) -- General Electric filed more than 7,000 income tax returns in hundreds of global jurisdictions last year, but when push came to shove, the company owed the U.S. government a whopping bill of $0.
How'd it pull off that trick? By losing lots of money. GE had plenty of earnings last year -- just not in the United States. For tax purposes, the company's U.S. operations lost $408 million, while its international businesses netted a $10.8 billion profit. The truth about GE's tax bill - FORTUNE Features - Fortune on CNNMoney.com. Did GE pay U.S. income taxes in 2010?
The company known for minimizing its tax bill made a muddled situation worse responding to a New York Times report suggesting it might get a refund. GE now says it has a small tax liability for 2010. By Allan Sloan, senior editor-at-large, Fortune, and Jeff Gerth, senior reporter, ProPublica. What The Top U.S. Companies Pay In Taxes - Forbes.com.