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Media Hit | Tax

CoPIRG: 362 Fortune 500 firms, including 7 in Colorado, use offshore tax havens

Nearly three-quarters of Fortune 500 companies maintain subsidiaries in offshore tax havens, including seven Colorado-based firms, according to a new report by the Colorado Public Interest Research Group and Citizens for Tax Justice.

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Report | CoPIRG Foundation | Tax

Offshore Shell Games

Most of America’s largest corporations maintain subsidiaries in offshore tax havens. At least 362 companies, making up 72 percent of the Fortune 500, operate subsidiaries in tax haven jurisdictions as of 2013.

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News Release | CoPIRG Foundation | Tax

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Colorado’s Liberty Global and Western Union – to maintain subsidiaries inoffshore tax havens as of 2013, according to “Offshore Shell Games,” released today by the CoPIRG Foundation and Citizens for Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

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News Release | CoPIRG Foundation | Safe Energy

VICTORY: PUC Rejects Xcel’s Energy Savings Rollback Proposal

On Wednesday, the Colorado Public Utilities Commission rejected Xcel Energy’s proposal to cut their energy savings programs by nearly a third from their 2014 level. The PUC also tightened up the rules around bonuses that Xcel can generate from meeting their goals and directed Xcel Energy to develop plans for new energy saving opportunities.

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Media Hit | Safe Energy

Don't retreat on Xcel energy efficiency goals

There is no question Xcel Energy's efficiency savings program has been a success since 2009, saving customers nearly 1.6 billion kilowatt-hours a year.

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News Release | CoPIRG Foundation | Budget, Tax

Offshore Tax Dodging Blows a $504 Million Hole in Colorado Budget:

With Colorado’s state budget stretched thin, CoPIRG released a new study revealing that Colorado lost $504 million due to offshore tax dodging in 2012. 

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News Release | CoPIRG Foundation | Budget, Tax

Report Exposes How Taxpayers Bear Cost of Corporate Settlements

A new report spotlights a common practice where corporations that commit wrongdoing and agree to financial settlements with the federal government go on to claim such settlement payments as tax-deductible business expenses.

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News Release | CoPIRG Foundation | Budget, Tax

First Step to Avoid the Fiscal Cliff: Close Offshore Tax Loopholes

With Congress scrambling to agree on ways to reduce the deficit, U.S. PIRG released a new analysis pointing out a clear first step to avoid the “fiscal cliff”: closing offshore tax loopholes. Many of America’s largest corporations and wealthiest individuals use accounting gimmicks to shift profits made in America to offshore tax havens, where they pay little to no taxes. This tax avoidance costs the federal government an estimated $150 billion in tax revenue each year.  CoPIRG’s new data illustrates the size of this loss with 16 dramatic ways $150 billion could be spent.

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News Release | CoPIRG Foundation | Democracy

New Report Details Latest Campaign Finance Numbers on Outside Spending

Unlimited outside spending fueled by a small number of wealthy donors is poised to have an outsized impact on the 2012 elections, according to a new report analyzing the latest campaign filings.

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News Release | CoPIRG Foundation | Tax

New Report Demonstrates Taxpayer Subsidies for Junk Food

Federal subsidies for commodity crops are subsidizing junk food additives like high fructose corn syrup, enough to pay for 21 Twinkies per taxpayer every year, according to CoPIRG’s new report.

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