This Could Be the Year Bank of America Pays Income Taxhttp://www.fool.com/investing/general/2013/03/19/this-could-be-the-year-bank-of-america-pays-income.aspx Amanda Alix
March 19, 2013
It's the time of year when spring is in the air, and the first quarter is about to close, giving us an idea of how the new year will be treating our favorite companies. As an added treat -- with April 15 just around the corner -- we also begin to hear whispers regarding what these entities paid in taxes in previous years.
For investors, this information is often less irksome than for Main Street at large, since a smaller tax bill should result in more capital to share with stockholders. This is not necessarily the case, of course, particularly with the banking sector -- which has just begun to blossom again in the wake of the Great Recession.
Taking a look at income taxes paid by big banks clearly points up the fact that those that pay the most in federal taxes also have the most income. This can be seen clearly by taking a look at Bank of America (NYSE: BAC).