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In reply to the discussion: Long-time Iowa farm cartoonist fired after creating this cartoon [View all]rurallib
(62,982 posts)if any taxes in Iowa. Pioneer is a division of Dupont now. I would guess they probably don't pay a lot of taxes either.
Pioneer was founded by Henry Wallace, former VP and very progressive Dem. But they are just a cog in a wheel now.
ETA from my good friends at the Iowa Fiscal Partnership: http://www.iowafiscal.org/ifp-news-no-income-taxes-big-checks-from-state/
IOWA CITY, Iowa (Feb. 11, 2015) More companies are benefiting from a lucrative tax subsidy that permits large, profitable corporations to get checks from the state without paying any Iowa income tax.
Most notable is that Iowa continues to give a lot of money to companies that arent paying income tax. There were 181 companies that received RAC checks from the state because their tax credits exceeded their income tax liability, said Mike Owen, executive director of the nonpartisan Iowa Policy Project in Iowa City, part of the Iowa Fiscal Partnership.
The report, released Wednesday, also shows:
Only 16 companies or 6.5 percent claimed 83 percent of the benefits and at least 75 percent of the checks.
Those 16 companies each had at least $500,000 in claims, totaling over $42 million in 2014.
The top five companies benefiting from the credit have been the largest beneficiaries over the last five years: Rockwell Collins, Deere & Co., Dupont, John Deere Construction and Monsanto."