….……………………..........................Current………Core…….......State
….……………………............................State.....Consolidated..Effective
….……………………............................Tax………...Pretax……..Tax Rate
….……………………............................Paid……....Income……….Paid
….……………….…..............................(Millions of Dollars)
..9. Steel Dynamics…........................190*….......3,221……....5.90%
..8. Duke Energy Indiana / PSI..........161………...3,229……....4.99%
..7. Guidant(1998-2005)..................187...........5,466..........3.42%
..6. NiSource…..................................190…........5,668……….3.35%
..5. Mead Johnson Nutrition(05-09).101……......3,155……....3.20%
..4. Zimmer Holdings........................201……......8,084……....2.49%
..3. WellPoint....................................649……....29,665……....2.19%
..2. Cummins……………………...............68*……......5,566……….1.22%
..1. Eli Lilly......................................(15)...........45,671…….(0.03)%
Total all 9………............................1,732…......109,725……....1.58%
* Includes both Current State Income Tax Paid or Payable and Deferred State Income Tax Expense. Thus, Current State Income Tax Paid, as well as the effective state corporate income tax paid rates, should both be lower than the above amounts for these two Corps.
For the most recent year, the effective state corporate income taxes paid by these 9 large Indiana Corps was an even lower 0.96%.
Eli Lilly is one of only several very profitable Big Corps in the country, that instead of paying state corporate income taxes, has received state corporate income tax refunds in total for the last 12 years.
It is difficult for me to understand how a State like Indiana could be so mean-spirited to lay off all of these State Educators and other State Employees, and also cut State Medicaid Benefits, while at the same time, permit a large Corporation like Eli Lilly, that generated a massive $45.7 bil of core pretax income in the past 12 years, to not pay a dime of State Income Tax in total for those 12 years.
