Corporate tax rate for major companies – a new report from Wallet Hub – who is paying their “fair share” and who is “freeloading” some answers are surprising, some less so.

With Election Day just days away and tax reform being a major issue this presidential election cycle, the personal-finance website WalletHub today released its latest Corporate Tax Rate Report. This report 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 — are taxed at the state, federal and international levels.

Companies Paying the Highest Taxes

(Overall Tax Rate)

Companies Paying the Lowest Taxes

(Overall Tax Rate)

1 General Electric (79.2%) 1 General Motors Company (-34.3%)
2 Kinder Morgan (73.1%) 2 Chevron (2.7%)
3 Amazon.com (60.6%) 3 Mondelez International (7.5%)
4 Colgate-Palmolive (44.0%) 4 Twenty-First Century Fox (12.6%)
5 Unitedhealth Group (42.6%) 5 Amgen (13.0%)
6 Lowe’s Cos (42.4%) 6 Lilly Eli & Co. (13.7%)
7 Facebook (40.5%) 7 Intl Business Machines (16.2%)
8 CVS Caremark (39.3%) 8 Gilead Sciences (16.4%)
9 Union Pacific (37.7%) 9 Google (16.8%)
10 Comcast (37.1%) 10 Merck & Co. (17.4%)

Key Stats

  • The overall tax rate that S&P 100 companies pay is around 28 percent.
  • S&P 100 companies pay roughly 44 percent lower rates on international taxes than U.S. taxes.
  • Tech companies, including Apple, Cisco Systems and Google, are still paying more than 25 percent lower rates abroad, continuing the trend from 2013 and 2014.
  • Only one S&P 100 company is actually paying a negative overall tax rate and is therefore due a refund: General Motors Company.
  • The average S&P 100 company pays a 22 percent higher tax rate than the top 3 percent of consumers.

For the full S&P 100 Tax Rate report, please visit:

https://wallethub.com/edu/corporate-tax-rates/28330/

Source: WalletHub

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Source: WalletHub

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Corporate Tax Rates

The table below shows the federal tax rates at different income levels and how they contrast with actual tax rates paid by S&P 100 companies.

Taxable Income ($) Tax Rate
$0 to $50,000 15%
$50,000 to $75,000 $7,500 + 25% Of the amount over $50,000
$75,000 to $100,000 $13,750 + 34% Of the amount over $75,000
$100,000 to $335,000 $22,250 + 39% Of the amount over $100,000
$335,000 to $10,000,000 $113,900 + 34% Of the amount over $335,000
$10,000,000 to $15,000,000 $3,400,000 + 35% Of the amount over $10,000,000
$15,000,000 to $18,333,333 $5,150,000 + 38% Of the amount over $15,000,000
$18,333,333 and up 35%
Effective Federal Tax Rate Paid by S&P 100 Companies in 2015 38%
Corporate tax rate

Corporate tax rate

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