10 Companies Paying the US Highest (and Lowest) Corporate Taxes

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 – to 21% in 2018. The new rate is below the 24.03% global average. This dramatic decrease, however, hasn’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.

Let’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%)