With companies enjoying the tax cuts from 2017’s tax overhaul, the personal-finance website WalletHub today released its latest Corporate Tax Rate Report.

The report provides an in-depth analysis of the 2018 federal, state and international tax rates paid by the S&P 100 companies, the largest and most established businesses in the U.S.

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%)

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%)

Key Stats

  • The overall tax rate that S&P 100 companies pay is around 21 percent.
  • S&P 100 companies pay roughly 7 percent lower rates on U.S. taxes than international 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, 2016 and 2017.
  • Five S&P 100 companies are actually paying a negative overall tax rate and are therefore due a discrete net tax benefit: PepsiCo Inc., AbbVie Inc., Berkshire Hathaway Inc., NVIDIA Corporation and FedEx Corp.
  • The average S&P 100 company pays a 35 percent lower tax rate than the top 1 percent of consumers.

For the full S&P 100 Tax Rate report, please visit: https://wallethub.com/edu/corporate-tax-rates/28330/