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USA TODAY - Death and taxes are supposed to be two certainties of life. But a few companies have at least escaped the taxes part. Investors, though, don't seem all that impressed.
There are 27 companies in the Standard & Poor's 500, including telecom firm Level 3 Communications (LVLT), airline United Continental (UAL) and automaker General Motors (GM), that reported paying no income tax expense in 2015 despite reporting pre-tax profits, according to a USA TODAY analysis of data from S&P Global Market Intelligence.
Only profitable firms were included in the analysis since firms that lost money - like many energy companies - wouldn't be expected to pay taxes.
Escaping the taxman, so far, hasn't been an advantage at least in the eyes of investors. Shares of the companies that paid no taxes are down 11% on average over the past 12 months, which is more than twice the 4.8% decline by the S&P 500 during the same period.
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