DTE Energy is among 60 Fortune 500 companies that did not pay federal income taxes in 2018. That’s according to the non-partisan Institute on Taxation and Economic Policy.
DTE spokesperson Peter Ternes confirmed in an email they did not pay those taxes last year.
Ternes says the company, which provides electricity and natural gas to millions of customers in Michigan, follows current federal tax laws and claims their capital investments as deductions.
"The savings associated with these accelerated tax deducations have been passed along to customers resulting in annual customer savings of $20-$50 million per year," Ternes wrote.
He says DTE has paid more than $300 million in state and local taxes and expects to pay higher federal income taxes in the future.
General Motors, Whirlpool Corporation and Penske Automotive Group are three other Michigan companies that did not pay federal income taxes.
DTE Energy President Trever Lauer will be a lead presenter at the Michigan Clean Energy Conference in Traverse City May 21-23.