Exelon Caught In $1.4 Billion Tax Dodge - While Making $841 Million In Quarterly Profits
Friday, Oct 28, 2016
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The same utility company that is pressuring Illinois legislators for more than eight billion dollars in ratepayer subsidies illegally avoided paying more than $1.4 billion in federal taxes and penalties.
A federal court ruled in September that Exelon set up illegal tax shelters to avoid paying taxes, and that the company owes the government more than $1.4 billion in back taxes, penalties and interest.
Meanwhile, Exelon just announced higher than expected 3rd quarter profits of $841 million and bragged to their investors about how successful they’ve been this year. In fact, they’ve made more than $2 BILLION IN PROFITS in the last twelve months.
Why on Earth should Illinois ratepayers be forced to pay billions more for nuclear plants we don’t need while EXELON CAN’T EVEN BE TRUSTED TO PAY ITS TAXES?
BEST Coalition is a 501C4 nonprofit group of dozens of business, consumer and government groups, as well as large and small businesses. Visit www.noexelonbailout.com.