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CEO Pay Overshadows Tax Bills at Big Companies (AP)

Think tank cites 26 large corporations that it says paid big bucks to CEOs and hardly anything in taxes.

The U.S. corporate tax code lets companies provide outsized compensation for their CEOs while paying minimal taxes, according to a study by the Institute for Policy Studies, a Washington think tank.

The study lists 26 companies, including AT&T, Boeing and Citigroup, that it says paid CEOs an average of $20.4 million in 2011 and generated average net income of $1 billion, while pay little in taxes, according to an Associated Press report. For example, the study cites Boeing, saying that while the company paid CEO James McNerny Jr. $18.4 million, it got a tax refund of $605 million. A Boeing spokesman disputes that, saying the company paid $1.3 billion in taxes last year.

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