April 29, 2014 > Which Corporate Giants Pay the Highest & Lowest Tax Rates?
Which Corporate Giants Pay the Highest & Lowest Tax Rates?
Submitted By Liana Arnold
A few highlights of a WalletHub report based on tax data from 2012:
?S&P 100 companies pay around 30% lower rates on international taxes than U.S. taxes.
?Tech companies Ð including Apple, EBay and Google Ð seem to specialize in paying around 80% lower tax rates abroad than in the U.S.
?Six S&P 100 companies are actually paying a negative overall tax rate and are therefore due a tax refund: Abbott Laboratories, Morgan Stanley, Bank of America, AIG, Bristol-Myers and Verizon.
?Among the remaining companies that owe taxes, VISA, MetLife and Citi pay some of the lowest rates.
Ê?The average S&P 100 company pays a 16% higher tax rate than the top 3% of consumers.
For the full S&P 100 Tax Rate Report, please visit: http://wallethub.com/edu/corporate-tax-report/3170/