Untaxed foreign profit: $94 billion

Perhaps it's not surprising that General Electric, known for aggressively minimizing its tax bill, by far tops the list.

The multinational conglomerate operates in nearly every corner of the world, whether it's supplying technology to hospitals in Malaysia, medical imaging equipment to England, or water systems in Ghana. It sells its products and services in more than 100 countries.

A recent story in The New York Times claimed that GE paid nothing in federal income tax last year despite its $5.2 billion in domestic profits. It sparked a new debate over corporate tax reform, even though the company later told Fortune that it expects a small tax liability for 2010.