Our corporate income tax is based on net income. So no matter how much money changes hands if the corporation loses money it pays no income tax because it had no net income.
I'm not sure what you're arguing for or against at this point, but you have at least a factual error as your basis. "Net" income is after taxes are taken out.
This is very clear in Intel's financial statements (as well as for all other companies). The line items read:
A. Income before taxes B. Provision for taxes C. Net Income (which is A minus B)
You can see that Intel paid a rate of 27.2% in 2011.
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