Over the past decade, three-fourths of corporate income tax liability was incurred by firms in
four sectors: manufacturing, finance and insurance, wholesale and retail trade, and
management of companies (holding companies). Manufacturing firms paid a significantly
higher share of taxes than their share of net worth, but about the same as their share of
receipts. Finance and insurance companies paid very little tax in relation to their net worth,
but a larger share of taxes than their share of receipts. Retailers paid high taxes relative to …