The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Boeing CEO’s pay didn’t exceed company’s federal taxes, says company

Post by John Gillie / The News Tribune on Aug. 20, 2012 at 3:36 pm |
August 20, 2012 3:38 pm

A report that Boeing CEO W. James McNerney Jr.’s $18.2 million in compensation exceeded Boeing’s federal tax bill is incorrect, a company spokesman said this week.

Boeing’s federal taxes, including taxes deferred to future years, totaled some $1.3 billion last year, said Boeing spokesman Chas Bickers.

A study by the liberal Institute for Policy Studies contended 26 large U.S. companies paid their chief executives more last year than they paid in taxes. Among those companies, said the institute, was Boeing.

While Boeing last year received a $605 million tax refund, it’s net tax obligations were $1.3 billion, said Bickers.

Boeing took advantage of federal tax credits for research and development expenses last year. That R&D spending created some 11,000 jobs, said a Boeing spokesman.

The News Tribune now uses Facebook commenting on selected blogs. See editor's column for more details. Commenters are expected to abide by terms of service for Facebook as well as commenting rules for Report violators to