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

WalletHub’s latest Corporate Tax Rate Report for S&P 100 is here to make one of the linchpin issues of 2019 ever more relevant.



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%)

Christy Gren
Christy Gren is an Industry Specialist Reporter at Industry Leaders Magazine she enjoys writing about Unicorns, Silicon Valley, Startups, Business Leaders and Innovators. Her articles provide an insight about the Power Players in the field of Technology, Auto, Manufacturing, and F&B.

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