Corporate Tax Rate Report - WalletHub Study

Last updated on Thursday, November 2, 2017

(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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