The overall tax rate that S&P 100 companies pay on average is nearly 28%, but a WalletHub report finds that many companies pay a lower overall tax rate than the average.
In its latest Corporate Tax Rate Report, WalletHub analyzed the annual reports for the largest and most established companies on the stock market, aka the S&P 100, in order to determine their tax rates at the state, federal and international levels.
Of those 100 companies, only one is actually paying a negative overall tax rate and is therefore due a discrete net tax benefit: General Motors Company.
According to WalletHub's analysis, these 15 companies – General Motors included – pay the lowest overall tax rates. For the companies with fields marked N/A, the data was not available. The companies with negative incomes reported losses, as such there was no income that could be taxed.
15. Intel (INTC)
2015 Overall Tax Rate: 19.6%
2015 International Tax Rate: N/A
2015 State Tax Rate: N/A
2015 Federal Tax Rate: 22.3%
14. QUALCOMM (QCOM)
2015 Overall Tax Rate: 18.8%
2015 International Tax Rate: 36.9%
2015 State Tax Rate: 0.2%
2015 Federal Tax Rate: -2.5%
13. The Bank of New York Mellon (PCLN)
2015 Overall Tax Rate: 18.4%
2015 International Tax Rate: 16.4%
2015 State Tax Rate: 138.9%
2015 Federal Tax Rate: 55.2%
12. Abbott Laboratories (ABT)
2015 Overall Tax Rate: 18.1%
2015 International Tax Rate: 8.4%
2015 State Tax Rate: N/A
2015 Federal Tax Rate: N/A
11. PayPal (PYPL)
2015 Overall Tax Rate: 17.5%
2015 International Tax Rate: N/A
2015 State Tax Rate: negative income
2015 Federal Tax Rate: negative income
10. Merck & Co (MRK)
2015 Overall Tax Rate: 17.4%
2015 International Tax Rate: 21.6%
2015 State Tax Rate: 3.6%
2015 Federal Tax Rate: 8.0%
9. Google (GOOG)
2015 Overall Tax Rate: 16.8%
2015 International Tax Rate: 6.2%
2015 State Tax Rate: -5.3%
2015 Federal Tax Rate: 36.7%
