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Nike and Dozens of Other Companies Paid No Federal Taxes for the Last Three Years

Tax credits and rebates from the federal government made it so the company actually paid a negative tax rate, a study showed.

Nike is one of several enormous and profitable U.S. companies that paid no federal taxes in the past three years, according to a study released Friday. Other well-known names included Duke Energy, FedEx, and Salesforce, though dozens more businesses in sectors like energy and industrial chemicals made the list. Nike, which took in $4.1 billion in profits in the same time period, paid what the Institute on Taxation and Economic Policy tabulated to be a -18 percent tax rate, meaning tax credits and rebates from the federal government amounted to more than the company paid. Former President Donald Trump slashed the corporate tax rate in a sweeping bill in 2017, and President Joe Biden has pushed to raise it.