Biotech Values

[OakesCS]

OT XOM US taxes

from http://www.manufacturing.net/News/Feeds/2011/04/mnet-mnet-industry-focus-facilities-and-operations-on-earnings-profits-and-taxes-exxonmobil-lays-it/ story dated yesterday

Finally, Cohen closes by refuting the political attacks against oil companies, the demands for higher taxes, and the claims that oil companies escape paying their fair share of federal taxes.

Let me state it unequivocally. Last year, our total taxes and duties to the U.S. government were $9.8 billion, which includes an income tax expense of $1.6 billion. Over the past five years, we incurred a total U.S. tax expense of almost $59 billion, which is $18 billion more than we earned in the United States during the same period.

And during the first quarter of this year, we incurred tax expenses in the United States of more than $3.1 billion on U.S. earnings of $2.6 billion.