Which U.S. Companies Pay the Most and Least Taxes?

Published: Jan. 14, 2019 at 8:27 AM CST
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MEMPHIS, TN (WMC) - With 2017’s tax overhaul permanently reducing the federal corporate income tax rate from 35 percent to 21 percent, the personal-finance website WalletHub has released its latest Corporate Tax Rate Report.

The report provides an in-depth analysis of the 2017 federal, state and international tax rates paid by the S&P 100 companies, the largest and most established businesses in the U.S.

Companies Paying the Highest Taxes (overall tax rate)

  1. American  International Group Inc. (513.4%)
  2. Halliburton  Co. (165.8%)
  3. Citigroup  Inc. (129.1%)
  4. Eli  Lilly and Co. (109.3%)
  5. General  Motors Co. (97.2%)
  6. Johnson  & Johnson (92.6%)
  7. Kinder  Morgan Inc. (89,7%)
  8. Abbott  Laboratories (84.2%)
  9. The  Coca-Cola Co. (82.5%)
  10. Caterpillar  Inc. (81.8%)

Companies Paying the Highest Taxes (overall tax rate)

  1. Charter  Communications Inc. (-883.9%)
  2. Kraft  Heinz Co. (-98.7%)
  3. A.T.&T.  (-97.2%)
  4. Berkshire  Hathaway Inc. (-90.3%)
  5. Pfizer  Inc. (-73.5%)
  6. Comcast  Corp. (-49.5%)
  7. Verizon  Communications Inc. (-48.3%)
  8. MetLife  Inc. (-41.6%)
  9. Union  Pacific Corp. (-40.4%)
  10. Dow  DuPont Inc. (-39.9%)

Key Stats

The overall tax rate that S&P 100 companies pay is around 39 percent.

The average S&P 100 company pays a 77 percent higher tax rate than the top 1 percent of consumers.

S&P 100 companies pay roughly 65 percent lower rates on international taxes than U.S. taxes.

Tech companies, including Facebook Inc., Apple Inc., and Cisco System Inc., are still paying more than 15 percent lower rates abroad, continuing the trend from 2013, 2014, 2015, and 2016.

More than ten S&P 100 companies are actually paying a negative overall tax rate and are therefore due a discrete net tax benefit: Charter Communications Inc., The Kraft Heinz Co., AT&T Inc., Berkshire Hathaway Inc., Pfizer Inc., Comcast Corp., Verizon Communications Inc., MetLife Inc., Union Pacific Corp., Dow DuPont Inc., Netflix Inc., NextEra Energy Inc., Exxon Mobil Corp., Altria Group Inc., Exelon Corp., and Chevron Corp.

To read the full S&P 100 Tax Rate report, click here.

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