Corporate View

Corporate Tax Rate Report

How will 2017’s historic tax overhaul affect corporate performance going forward?

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With 2017’s tax overhaul permanently reducing the federal corporate income tax rate from 35 percent to 21 percent, the personal-finance website WalletHub today released its latest Corporate Tax Rate Report.

The report provides an in-depth analysis of the 2017 federal, state and international tax rates paid by the S&P 100 companies, the largest and most established businesses in the U.S.

Excerpts From the Corporate Tax Report

Concerns over the proper role of taxation lie at the very foundation of American history. They haven’t gone away, either. In fact, President Donald Trump signed a new overhauled tax plan into effect in December 2017, which will affect earnings in the 2018 fiscal year. One of the largest changes in the plan is that the federal corporate income tax rate was permanently lowered from 35 percent to 21 percent. Republicans champion the tax plan as beneficial to business and consumers and Democrats claim it will only increase the wealth of the already wealthy.

With businesses looking forward to a large tax cut in the future, WalletHub analyzed annual reports for the S&P 100 — the largest and most established companies on the stock market — in order to determine the federal, state and international tax rates they paid in 2017.

 Ask the Experts: Should Corporations Pay Less than Consumers?
For insight into the country’s current corporate tax system as well as its potential fixes, we turned to experts in the fields of accounting and tax law for their thoughts on the following key questions:

  • Are the current multiple trade disputes going to send the stock market into depression?
  • What risks these disputes pose for the investors?
  • Is the U.S. leaving money on the table with the current corporate tax structure?
  • What would you change about the way U.S. corporations are taxed?
  • Do you consider tax-inversion deals to be unpatriotic?


Companies Paying the Highest Taxes
(Overall Tax Rate)
Companies Paying the Lowest Taxes
(Overall Tax Rate)
1American International Group Inc. (513.4%)1Charter Communications Inc. (-883.9%)
2Halliburton Co. (165.8%)2The Kraft Heinz Co. (-98.7%)
3Citigroup Inc. (129.1%)3AT&T Inc. (-97.2%)
4Eli Lilly and Co. (109.3%)4Berkshire Hathaway Inc. (-90.3%)
5General Motors Co. (97.2%)5Pfizer Inc. (-73.5%)
6Johnson & Johnson (92.6%)6Comcast Corp. (-49.5%)
7Kinder Morgan Inc. (89.7%)7Verizon Communications Inc.  (-48.3%)
8Abbott Laboratories (84.2%)8MetLife Inc. (-41.6%)
9The Coca-Cola Co. (82.5%)9Union Pacific Corp. (-40.4%)
10Caterpillar Inc. (81.8%)10DowDuPont Inc. (-39.9%)


Key Stats

  • The overall tax rate that S&P 100 companies pay is around 39 percent.
  • S&P 100 companies pay roughly 65 percent lower rates on international taxes than U.S. taxes.
  • Tech companies, including Facebook Inc., Apple Inc. and Cisco System Inc., are still paying more than 15 percent lower rates abroad, continuing the trend from 2013, 2014, 2015 and 2016.
  • More than ten S&P 100 companies are actually paying a negative overall tax rate and are therefore due a discrete net tax benefit: Charter Communications Inc., The Kraft Heinz Co., AT&T Inc., Berkshire Hathaway Inc., Pfizer Inc., Comcast Corp., Verizon Communications Inc., MetLife Inc., Union Pacific Corp., DowDuPont Inc., Netflix Inc., NextEra Energy Inc., Exxon Mobil Corp., Altria Group Inc., Exelon Corp. and Chevron Corp.
  • The average S&P 100 company pays a 77 percent higher tax rate than the top 1 percent of consumers.

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