WalletHub Press Release
Corporate Tax Rate Report
With some companies getting tax relief through the CARES Act this year, the personal-finance website WalletHub today released its latest Corporate Tax Rate Report.
The report provides an in-depth analysis of the 2019 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)
|Companies Paying the Lowest Taxes
(Overall Tax Rate)
|1. Occidental Petroleum Corp. (372.58%)||1. Gilead Sciences Inc. (-3.95%)|
|2. Altria Group Inc. (269.45%)||2. American Tower Corporation (0.01%)|
|3. salesforce.com, inc. (82.15%)||3. Mondelez International Inc. (0.06%)|
|4. General Electric Co. (63.19%)||4. NVIDIA Corporation (5.86%)|
|5. Chevron Corp. (48.61%)||5. AbbVie Inc. (6.46%)|
|6. Qualcomm Inc. (41.37%)||6. Internat'l Business Machines Corp. (7.19%)|
|7. The Procter & Gamble Co. (34.65%)||7. Pfizer Inc. (7.83%)|
|8. Bristol-Myers Squibb Co. (30.45%)||8. Adobe Inc. (7.90%)|
|9. Kinder Morgan Inc. (29.26%)||9. Thermo Fisher Scientific Inc. (9.19%)|
|10. Raytheon Technologies Corporation (27.84%)||10. Netflix Inc. (9.47%)|
- The overall tax rate that S&P 100 companies pay is around 19 percent.
- S&P 100 companies pay roughly 6 percent lower rates on U.S. taxes than international taxes.
- Most tech companies, including Adobe, Inc., Oracle Corp. and Cisco Systems, Inc., are still paying more than 5 percent lower rates abroad, continuing the trend from 2013, 2014, 2015, 2016, 2017 and 2018.
- Only one S&P 100 company, Gilead Sciences, Inc., is actually paying a negative overall tax rate and is therefore due a discrete net tax benefit.
- The average S&P 100 company pays a 29 percent lower tax rate than the top 1 percent of consumers.
View the full S&P 100 Tax Rate report.