Arguing about taxes is as American as apple pie. You may feel that the rich pay too little, or that everyone pays way too much. We can argue about how residents of certain parts of the United States are paying taxes without Congressional representation. Politicians famously publish their tax plans which are derided and ridiculed by those on the other side every election year.
And another part of that argument is corporate tax rates — or, how much money in taxes our businesses fork over to local and federal governments. Some say that if we were to lower the corporate tax rate, we’d spur the economy by attracting more businesses and making them cheaper to operate. Others say businesses should pay more to offset externalities like pollution. It’s a fight that will likely never be settled.
But if you’re wondering which of America’s biggest companies are getting off relatively easy with their tax bills, Wallethub’s Corporate Tax Rate Report is the place to look.
Wallethub’s work “provides an in-depth analysis of the 2015 rates at which S&P 100 companies — collectively worth more than $12.4 trillion as of Sept. 30 (2016) — are taxed at the state, federal and international levels.”
The report said that the overall tax rate among the S&P 100 is around 28%, which presents no change from the prior year. Among the 100 companies, only one expected a negative tax rate — which you’ll see on the following pages. Corporate taxes are a complicated topic that isn’t easy to understand with just a cursory read. It’s recommended that you look through the entire report and do some other reading into the subject as well.
But if you want to know which companies are paying the most, and which are paying the least in corporate taxes? We’ll cut to the chase.
These are the American companies that are paying the most and least in corporate taxes, per Wallethub’s Corporate Tax Rate Report.