Corporate Income Tax, Effective Tax Rates (EFT) Can Differ Significantly from the Statutory Rate, GAO-13-520, May 30, 2013: “For tax year 2010 (the most recent information available), profitable U.S. corporations that filed a Schedule M-3 paid U.S. federal income taxes amounting to about 13 percent of the pretax worldwide income that they reported in their financial statements… Continue Reading