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10 Companies Paying the US Highest (and Lowest) Corporate Taxes
WalletHubโ€™s latest Corporate Tax Rate Report for S&P 100 is here to make one of the linchpin issues of 2019 ever more relevant.
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Thanks to the Tax Cuts and Jobs Act (TCJA) of 2017, the US Corporate Tax has been reduced from 40% - the second highest in the world as of 2017 โ€“ to 21% in 2018. The new rate is below the 24.03% global average. This dramatic decrease, however, hasnโ€™t stopped a number of US companies from dodging their dues.

According to WalletHub, a personal finance website, companies in the S&P stock index paid about 7% lower rates in the US taxes than they did internationally.

Tech giant including Facebook, Apple, and Cisco, are still paying more than 15% lower rates internationally, continuing the trend from 2013.

AbbVie, Berkshire Hathaway, FedEx, NVIDIA, and PepsiCo are five S&P 100 companies paying a negative overall tax rate.

Among the companies that owe taxes are Adobe, Exelon, General Motors, Pfizer and Netflix which are paying some of the lowest rates.

Letโ€™s take a look at the 10 S&P 100 companies which paid the highest US corporate taxes last year.

Companies Paying the Highest Taxes
(Overall Tax Rate)

  1. Qualcomm Inc. (1048.1%)
  2. CVS Health Corp. (142.4%)
  3. Cisco Systems Inc. (99.2%)
  4. Oracle Corp. (70.3%)
  5. American International Group Inc. (59.9%)
  6. Nike Inc. (55.3%)
  7. Microsoft Corp. (54.6%)
  8. Medtronic Inc. (45.5%)
  9. Wal-Mart Stores Inc. (37.4%)
  10. ConocoPhillips (36.8%)

A list without the mention of S&P 100 companies that paid the lowest taxes last year would be an incomplete one.

Companies Paying the Lowest Taxes
(Overall Tax Rate)

  1. PepsiCo Inc. (-36.7%)
  2. AbbVie Inc. (-9.4%)
  3. Berkshire Hathaway Inc. (-8.0%)
  4. NVIDIA Corporation (-6.3%)
  5. FedEx Corp. (-5.0%)
  6. Netflix Inc. (1.2%)
  7. Exelon Corp. (5.4%)
  8. General Motors Co. (5.5%)
  9. Pfizer Inc. (5.9%)
  10. Adobe Inc. (7.3%)

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