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: 66

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

How Did the Soviets First Discover the SR-71 Blackbird?

Although President Lydon Johnson announced the development of the Lockheed SR-71 in 1964 which…See More
8 hours ago
Doc Vega commented on Burbia's blog post Disgraced Former CNN Anchor Don Lemon Arrested
"Personally, I don't consider Don Lemon or people like him to be journalists at all. They are…"
11 hours ago
tjdavis posted photos
yesterday
tjdavis favorited Doc Vega's blog post The Forbidden Canyon and It’s Residents
yesterday
tjdavis posted a video

The Farmer vs the Billionaire — Jeremy Clarkson Says NO to Bill Gates’ £100 Million Deal | UK News

OFFICIAL NOTICE: This channel is NOT Jeremy Clarkson, is not affiliated with him, and does not represent his official views or Diddly Squat Farm. This is an ...
yesterday
Doc Vega posted a blog post

The Forbidden Canyon and It’s Residents

 Chapter OneSituated 10 miles from Mount Jefferson in the Oregon wilderness a forest researcher…See More
yesterday
Less Prone commented on Doc Vega's photo
Thumbnail

G_LrzqtXMAAhT7w

"He would never do that. Mosques and Synagogues are out of the question, only Christianity is free…"
yesterday
Less Prone favorited Doc Vega's photo
yesterday
Less Prone favorited Burbia's blog post Disgraced Former CNN Anchor Don Lemon Arrested
yesterday
Burbia posted a blog post

Disgraced Former CNN Anchor Don Lemon Arrested

No longer an employed journalist, Don Lemon had been seen with far left agitator, Nekima Levy…See More
Friday
Burbia's blog post was featured

The Illusion of Fuck You Money

The United States use to have this idea that once you make enough money, you.can do as you want.…See More
Friday
tjdavis's blog post was featured
Friday
Doc Vega's 4 blog posts were featured
Friday
tjdavis posted a video

The Human Antenna - OFFICIAL FILM

THE HUMAN ANTENNA - Can We Reverse The Trans Humanist Agenda?MORE INFORMATION: → www.humanantennafilm.com ← MASTERPEACE: https://mphcs.com/PrimeEarthHuman En...
Thursday
Doc Vega posted a blog post
Wednesday
cheeki kea commented on Burbia's blog post A Masterclass Is Being Played Out For Those Who Have The Eyes To See
"PS Not sure this video will last much longer."
Wednesday
cheeki kea commented on Burbia's blog post A Masterclass Is Being Played Out For Those Who Have The Eyes To See
"  Deflection ~ Away from Themselves ! example. -->…"
Wednesday
tjdavis favorited Burbia's blog post The Illusion of Fuck You Money
Jan 24
tjdavis posted a video

Hi-Rez & Jimmy Levy - This Is A War (Official Video)

Disclaimer: The views, information, opinions and/or activities expressed in this video are solely those of the individuals appearing in the video, and do no...
Jan 24
Doc Vega posted photos
Jan 23

© 2026   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