European Stars And Stripes (Newspaper) - July 18, 1986, Darmstadt, Hesse                                Page 4 the stars and stripes Friday july 18,1996 report lists firms that paid Little in taxes Washington a Over half of the nation s riches corporations paid no Federal income us in at least one of thelast five years and Many received re funds of taxes paid in previous years Salabor financed research group reported thursday. A report prepared by citizens for tax Justice concluded that 250 giant corporations All of them profitable paid an average tax rate of 14.9 percent on earn Ings of j388 billion during the ip82-8s period. Thai is about the same tax Rale paid by an average family malting 145,000 a year. The study said 130 of those 250 companies paid no Federal Tan or receive refunds during at least one of the Yean from h81 through 1983. Forty two paid Zero or less in each of the years 1982 through 1985. Those 42 corporations included some of the Best known names in american business including american Telephone & Telegraph with j24.9 billion in profit Over the four years Dupont with s3.8 billion in profits Pepsico si.9 billion Xerox s670 million and general Mills $1,2 billion in profits. For the vast majority of american families who pay their Federal income taxes year in and year Oul the idea of a no us year ii almost inconceivable Robert s. Mclntyre director of Federal tax policy at citizens for tax Justice said in releasing the report but for most of America s largest corporations no Tan Yean Are now  the report was released As a Senate House conference committee began working on a Compromise plan for Over hauling the income tax. The separate ills passed by the House and Senate would make it More difficult for corporations to escape the tax collector in Yean in which they turn a profit. This is the third annual corporate lax Survey by citizens for tax Justice a Washington based research organization financed in part by labor unions. Most of the figures Are based on reports inc companies prepare for stockholders and Hie with the securities and Exchange com Mission. The study determines a company s effective Federal tax rate by dividing prof its into he amount of taxes currently payable. Thai calculation does not con Sider taxes that an payable but deferred until some future year. The tax figures cover Federal income taxes Only. In most cases profitable companies thai pay no Federal tax in a Given year Are Able to do so by taking advantage of depreciation deductions and investment credits in the tax Law. A company thai buys an expensive piece of machinery for example can reduce or even wipe out any current liability by using depreciation and the investment credit which were enacted As incentives for such Pur chases. If depreciation the investment credit and other special provisions exceed cur Ltd corp. Files for reorganization under chapter 11 Dalias a Ltd corp., Parent company of the country s no. 2 steelmaker announced thursday it filed for reorganization under chapter 11 of the Feder Al bankruptcy Laws because of problems in its steel and Energy divisions. The petition was filed thursday in new York and coven Ltd corp. And its 65 subsidiaries including Ltd sled Ltd aerospace and defense and Leven Ergy product. Under chapter 11, a company continues to operate but is protected from creditor lawsuits while it works out a plan to pay its bins. The company is a primary supplier of sled products to the automotive appliance and construction Indus Trie. On the Bass of shipments and production tvs tied unit is the second largest in the United stale behind  a subsidiary of us corp. Formerly known Ai . Steel corp. At midday on Wall Street Ltd was Down $2.12 4 to Toj Mashare. Tvs aerospace and defense unit supplies missiles aircraft components tactical wheeled vehicles an electronics. The Energy operation supplies tubular products Oil Field supplies and drilling and production equipment. Tvs consolidated balance Sheet showed that As of dec. 31, the Parent company had debts totalling s2.6 billion. Ill 1985 loan payments totalled $430 million Taid David Carroll spokesman for Ltd steel. Ltd has reported losses of j 1.44 billion from 1982 through 1985. Hershey to offer sweeter Deal no Umyn Mir Gnu in. Hey said wednesday the weight of most Stan Urshey Candy ban will increase 10 percent to 14 Harrisburg a. A chocolate lovers will get More bites to the bar when Hershey chocolate co. Increases the size of Many of its products without Rais ing prices and other manufacturers Are expected to offer Consumers a Bette Deal too Herthe Dar Dheri percent beginning next month. Most products in Hershey l big block1 line will become 27 percent Hea vier said spokesman John Long Wall Street analysts said they expect my Maks and smaller Candy makers to follow suit. Between Hershey and my Mars you have 70 percent of the Candy Industry right there. I guess the Little Guys will have to follow As Well said John my Miltin an analyst for Prudential Bache securities. Henley Hist increased Candy weights in March 1982. Wall Street analysts said the new increase reflects a drop in the Cost of Cocoa since january Brazil had a drought and everybody thought that prices for Cocoa would Rise. But the Ivory coast has been shipping Cocoa like crazy. There seems to be a tremendous Supply said Ronald Morrow of Smith Barney Harris Upham. A photo i ready far Little sawing m in How. Talented Pooch takes Bow and wows Chicago Chicago a sure you can believe a dog deliver paychecks and picks up a Telephone rec ver. But barks mama Ine says mama,1 that s probably her Best trick said Kelly Hagberg. Owner of Megan a 5 year old Golden  also saw i Waul a Bone. Now that does t sound like it verbatim. But the mama sounds like regular English said Hagberg president of trims co. In suburban Naperville Megan s place of  Megan does regular dog tricks too. We just Point a Finger at her and say bang bang and she plays dead Hagberg said. Megan who has been interviewed on a Chi Cago radio station aim can sit slay Roll Over and balance a Bone on her nose toss it in the air and catch it higher said. Hag both and his wife Deborah bought Megan five Yean ago mrs. Hagberg spent Many hours with tasty inducements trying to gel Megan to answer the question who do you love finally the response came mar or  when Hagberg s Mother in Law asks the ques Tion the dog starts the word with or or to make grandma Hagberg said. Now Megan distributes payroll checks bark when people enter the front office sits at the table with visiting sales people and sometimes even answers the Telephone. Rent us liabilities a company May carry Back the excess use it to offset Tux paid in a previous year. That results in the government s mailing a lax refund to the company. Here Are some findings in the report if the 250 profitable companies surveyed had been taxed at the full 46 per cent maximum corporate rate their taxes in 1982-85 would have been $178.5billion, or is 20.5 billion More than they actually paid. The six largest defense contractors paid taxes averaging 3.5 percent of their s21.7 billion in profits. The biggest Gen eral electric had 110.9 billion profits during the four years and paid 2.4 per cent in us. Seven of the 250 companies paid tax rates above 40 percent. They included Raythelon with an effective 52,8 percent rate. Effective lax rates by Industry ranged from a negative 7.8 percent for the airlines to 37.7 percent for tobacco House approves Resolution calling for spending cuts Washington a the House voted Thau Day to reaffirm 111.7 billion in spending cuu that were ruled invalid last week by the supreme court and Senate Leaden said they would try to Speed the legis lation to president Reagan. A Resolution calling for the spending cuts the first made under the a nun Rudman Enid get abut Ciff Law was approved 339-72 by the House where Republican and democratic Leaden said Swift action was needed to Avert deepening deficit troubles. Senate majority Leader Bob Dole a Kan said be would bring the legislation up for Consi Dantion As soon us possible but observed that it could be a Good vehicle for posturing by lawmakers. To help avoid Senate procedural delays congest convened on thursday for the first time a joint House Senate budget committee envisioned i the a nun room a Law. Under the jaw that Paad actions get special consideration on the Senate floor. James c. Miller Iii the president s budget director told a chamber of Commerce group thursday that Congress was taking the right approach. I expect Quick affirmation he said. The supreme Coort ruled last week that or Aram Rudman i main enforcement tool automatic spending cuts were unconstitutional. The court said it violated the Constitution s separation of Power doctrine be cause an officer of Congress the comptroller general ordered the executive Branch to nuke the cuts. The court said the March i cats were invalid but that Congress and the president could reaffirm them with legislation within 60 Days. 16 soviet . Kids of Trade visits Trust new York up sixteen american and soviet children Are ready to do what their elders have failed to accomplish participate in a global Exchange of peace and Trust. Eight american children will travel to the soviet Union in August for two weeks of touring and play it a summer Camp near the Black sea. In Exchange eight Young soviets will spend two weeks in the United slates in october. I think that this trip will fulfil my Hope for peace said student envoy Heather Stehney 14. I m going Over for them to show me that i can Trust them and i m giving them my Trust the trip is organized by kids meeting kids can make a difference a children s peace a Kip founded by new York activists Mary and Marvin Sachet and their two children in 1982. I would like to Sec peace Between the soviet Union and the United states and to see there is no Chance we will Ever have a nuclear War said Joanna Getson 12,