Study: Top 10 American Companies Paid 9% U.S. Tax Rate


While some of America's biggest corporations may complain that they pay too much in taxes, a recent analysis shows that many are actually getting off pretty easy.

According to the financial site NerdWallet, the 10 most profitable U.S. companies paid an average federal tax rate of just 9 percent last year. The group includes heavyweights Exxon Mobil, Apple, Microsoft, JPMorgan Chase and General Electric.

Some of these companies paid more than 9 percent -- JPMorgan earned $26.7 billion in 2011, for example, and paid $3.7 billion of it, or 14 percent, to the federal government -- and some paid less, like Exxon Mobil, which only sent 2 percent of its $73.3 billion earnings to the IRS.

But the 10 companies all paid much less than the nominal corporate tax rate of 35 percent -- a number that investor and tax-the-rich advocate Warren Buffett has dismissed as "a myth," but one that presidential front-runners Barack Obama and Mitt Romney have both proposed to lower.

Here are the top 3 of the ten most profitable U.S. companies with their taxes for last year, both total provision and payments to the U.S. government.  NerdWallet has also created a corporate tax rate tool with this information for 500 American companies.

 

EXXON (XOM)
 

Pre-tax earnings: $73.3 Billion

Tax Provision: $31.1 Billion (42%)

Actual Taxes Paid to U.S. federal government: $1.5 billion (2%)

Exxon paid $1.5 billion to the U.S. federal government in 2011 and deferred paying an additional $1.6 billion.  It paid the majority of its taxes to foreign governments where it operates ($28.8 billion).

CHEVRON (CVX)

Pre-tax earnings: $47.6 Billion

Tax Provision: $20.6 Billion (43%)

Actual Taxes Paid to U.S. federal government: $1.9 Billion (4%)

Chevron paid $1.9 billion to the U.S. federal government in 2011 and deferred paying an additional $877 million.  It paid the majority of its taxes to foreign governments where it operates ($16.5 billion).  Chevron also paid $596 million to state and local government.

APPLE (AAPL)

Pre-tax earnings: $34.2 Billion

Tax Provision: $8.3 Billion (24%)

Actual Taxes Paid to U.S. federal government: $3.9 Billion (11%)

Apple paid $3.9 billion to the U.S. federal government in 2011 and deferred paying an additional $3.0 billion.  It paid $762 million to state and local government, $769 million to foreign governments.

FOR REMAINING COMPANIES PLEASE VISIT: http://www.nerdwallet.com/blog/markets/2012/corporate-taxes-only-9-...http://www.presstv.ir/usdetail/254846.html AND http://www.forbes.com/sites/timworstall/2012/08/06/the-appalling-nonsense-of-americas-9-corporate-income-tax-rate/

Views: 64

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

We're on That Road

Just another confusing dayThe news always makes it that wayIf you believe in what they sayAll you…See More
10 hours ago
Sandy posted a video
22 hours ago
tjdavis favorited Sandy's discussion North Dakota's cloud seeding program draws interest from around the world. Opponents want to end it
23 hours ago
tjdavis posted a blog post
23 hours ago
Sandy posted a photo
yesterday
Sandy posted a video

✂️ RFK exposes Bill Gates

49 seconds · Clipped by painkillerZ100 · Original video "RFK Jr | PorcFest 2023" by Greg Fernandez Jr
yesterday
cheeki kea commented on Doc Vega's blog post The Redondo Trench, UAP’s, and EMP Triangles
"I don't see why they need aliens to reverse engineer anything when they could just reacquaint…"
Sunday
cheeki kea posted a photo
Sunday
cheeki kea commented on tjdavis's photo
Thumbnail

Solutions

"Sound the warning bell."
Sunday
tjdavis posted a photo
Sunday
Doc Vega posted blog posts
Saturday
tjdavis posted videos
Saturday
Doc Vega commented on Doc Vega's blog post Too Brainwashed to Use Common Sense
"cheeki kea Good points and thorough evidence of the sophisticated psychological attacks upon the…"
Saturday
Sandy posted a status
Saturday
Sandy posted a discussion
Saturday
Doc Vega posted a blog post

Beyond Our Control

Beyond Our Control No one is in my constellationA perpetual state of alienationNo false sense of…See More
Friday
tjdavis posted a blog post
Friday
Doc Vega commented on Doc Vega's blog post US Navy UFO Cover-up Yes They still continue!
"cheeki kea, you're right, Great Britain invented the Harrier Jump Jet which the US Marines…"
Thursday
cheeki kea posted a video

The TRUE Story of a Government-Sponsored Alien Hoax | Fallen World Films | #ufo #uap #drones

**This video is a selected clip from the full-length film, "The Heavens and the Earth: The Final Card"*WATCH the Full Movie HERE!*The Heavens and the Earth: ...
Thursday
cheeki kea commented on Doc Vega's blog post US Navy UFO Cover-up Yes They still continue!
https://www.youtube.com/watch?v=HHStTN8z1MQ    <--jump jet link. An American…"
Thursday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted