How Private Prison Companies Use Big Tax Breaks and Low Wages to Maximize Profit

http://www.truth-out.org/news/item/35564-how-private-prison-companies-use-big-tax-breaks-and-low-wages-to-maximize-profit
"Corrections Corporation of America (CCA) and GEO Group avoided a combined $113 million in federal income taxes in 2015 alone, according to an analysis of federal financial filings by the racial and economic justice group Enlace. The prison business is booming despite efforts to reduce the nation's prison population, which has exploded in recent decades and forced the government to contract with private prison companies to meet demand. Last year, CCA reported $222 million in net profits, and GEO Group reported $139 million. CCA and GEO Group have enjoyed increased profits per prisoner housed in their facilities since 2012, when both companies began converting themselves into special real estate trusts that are exempt from the federal corporate income tax, at least in the eyes of the IRS."