From the above link:
Under current law, U.S. corporations face a 35 percent tax rate on corporate profits. Hewlett-Packard, under Hurd, sent $47 million to Uncle Sam in 2009 federal corporate income taxes, a mere 2 percent of the company’s reported $2.6 billion in pretax domestic net income.
As a result of various tax avoidance schemes, U.S. corporate income taxes overall have plummeted from almost a third of all non-Social Security federal tax revenues in the 1960s to only a sixth of total taxes today, according to Citizens for Tax Justice.
Since paying taxes apparently gives rich execs the hives, it’s routine for big companies to shield their CEOs from taxes on perks. In 2009, HP gave Hurd $29,028 in such “tax gross-ups” to offset taxes related to his use of the company’s private jet and other perks. Over the past three years, Hurd’s gross-ups have totaled $137,924.