alt Hacker NewsNo, I think both of the following statements can be true at the same time:
1. The audited financial statement meets all requirements and is accurate according to the relevant definitions, stating that the effective federal tax rate is 30%.
2. They pay an effective federal tax rate of 3%.
I don't think those statements can be true at the same time, without significant qualifications on (2) in a way that make it meaningless. Certainly not the reasonable straightforward reading of the phrase.