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Corporate Tax Rate Report - WalletHub Study
Updated November 2, 2017 7:35 AM
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(UNDATED) - With progress underway on a tax-reform plan that proposes to cut the corporate income tax from 35 percent to 20 percent, the personal-finance website WalletHub released its latest Corporate Tax Rate Report.

The WalletHub Study report provides an in-depth analysis of the 2016 tax rates at the state, federal and international levels in the case of the S&P 100 companies, the largest and most established businesses in the U.S.

Companies Paying the Highest Taxes

1. Caterpillar Inc. (138.1%)
2. Kinder Morgan Inc. (56.0%)
3. Lowe's Cos. (40.5%)
4. UnitedHealth Group Inc. (40.4%)
5. CVS Health Corp. (38.4%)
6. Exelon Corp. (38.3%)
7. Union Pacific Corp. (37.4%)
8. Comcast Corp. (37.0%)
9. Amazon.com Inc. (36.6%)
10. The Home Depot Inc. (36.3%)

Companies Paying the Lowest Taxes

1. General Electric Co. (-5.1%)
2. Exxon Mobil Corp. (-5.1%)
3. Dow Chemical Co. (0.2%)
4. International Business Machines Corp. (3.6%)
5. Mondelez International Inc. (8.9%)
6. Boeing Co. (12.1%)
7. Pfizer Inc. (13.4%)
8. PayPal Holdings Inc. (14.1%)
9. Microsoft Corp. (15.0%)
10. Merck & Co. (15.4%)

Key Stats

  • The overall tax rate that S&P 100 companies pay is around 27 percent.
  • S&P 100 companies pay roughly 30 percent lower rates on international taxes than U.S. taxes.
  • Tech companies, including Facebook Inc., Alphabet Inc. and Verizon Communications Inc., are still paying more than 15 percent lower rates abroad, continuing the trend from 2013, 2014 and 2015.
  • Only two S&P 100 companies are actually paying a negative overall tax rate and are therefore due a refund: General Electric Co. and Exxon Mobil Corp.
  • The average S&P 100 company pays an 12 percent higher tax rate than the top 3 percent of consumers.
For the full S&P 100 Tax Rate report visit: https://wallethub.com/edu/corporate-tax-rates/28330/

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