Sunday, May 23, 2004

Following up on last month’s post about George Yin’s article on the effective tax rates of the companies in the S&P 500: The Rocky Mountain News has an interesting article about the amount of corporate taxes paid by Aldolph Coors Co. in recent years:

Year……Federal Income Tax…….State Income Tax……..Gross Profit………Gross Revenues

2003……………..8m……………………………….264k…………………….1.4b………………4.0b

2002……………50m……………………………….9.9m…………………….1.4b……………..3.8b

2001……………74m……………………………..13.8m……………………900k……………..2.4b

The story noted that “U.S. Senate candidate Pete Coors says he’s a tax-cutter. Evidence is ample at the Adolph Coors Co., which has cut its federal income tax bill by almost 90 percent in two years.”