With taxes and income inequality taking center stage in the recent presidential debates, the personal finance website WalletHub yesterday released its latest S&P 100 Tax Rates report.
This report provides an in-depth analysis of the 2014 rates at which S&P 100 companies — collectively worth more than $11 trillion as of Sept. 30 — are taxed at the state, federal and international levels. Names well known to and several based in Oklahoma are on this list.
| Companies Paying the Highest Taxes | Companies Paying the Lowest Taxes | ||||
| 1 | Anadarko Petroleum | 1 | Morgan Stanley | ||
| 2 | Occidental Petroleum | 2 | Amgen | ||
| 3 | Devon Energy | 3 | General Electric | ||
| 4 | Citigroup | 4 | General Motors | ||
| 5 | Walgreens Boots Alliance | 5 | Mondelez International | ||
| 6 | Unitedhealth Group | 6 | Celgene | ||
| 7 | Exxon Mobil | 7 | QUALCOMM | ||
| 8 | 8 | Bristol-Myers Squibb | |||
| 9 | CVS Caremark | 9 | Time Warner | ||
| 10 | ConocoPhillips | 10 | Medtronic | ||
Key Stats
- S&P 100 companies pay roughly 24 percent lower rates on international taxes than U.S. taxes.
- Tech companies, including Apple, Cisco Systems and Google, are still paying more than 25 percent lower rates abroad, continuing the trend from 2013.
- The average S&P 100 company pays an 11 percent higher tax rate than the top 3 percent of consumers.
For the full S&P 100 Tax Rate report, please visit: https://wallethub.com/edu/2014-corporate-tax-report/16339/