In 1992 Texas Utilities earned a $1 billion profit and paid $196 million - 2 percent of its gros income - in taxes.

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 most numerous profitable companies pay a 35 percent tax forward their profits, less any allowable deductions. Those deductions, however, mean that a certain quantity of companies will have a minimal pure income and, therefore, will not pay a great deal if anything, in taxes. In fact, a 1986 take a view of of 250 of the nation's chiefly profitable companies by the Washington-based Citizens for Tax Justice rest that 130 of them paid no federal income tax in at least single year between 1981 and 1985

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