In 1992 Texas Utilities earned a $1...

In 1992 Texas Utilities earned a $1 billion profit and paid $196 million - 2 percent of its gros income - in taxes. While that may not look like much, the fact is the company would have received an $18 million tax rebate if Congres did not impose a minimum tax or alternative minimum tax (AMT).

The greatest in quantity profitable companies pay a 35 percent tax in succession their profits, less any allowable deductions. Those deductions, however, mean that a companies will have a minimal pure income and, therefore, will not pay abundant if anything, in taxes. In fact, a 1986 observe of 250 of the nation's mostly profitable companies by the Washington-based Citizens for Tax Justice set that 130 of them paid no federal income tax in at least undivided year between 1981 and 1985

By comparison, the collection found that from 1987 to 1992 after the AMT had been