Taxes have become one of the linchpin issues of the 2016 presidential election, with the two candidates taking wildly different views of what companies should pay.
So how much do large companies actually pay in taxes and who is paying the least?
WalletHub set out to answer that question and broke down the overall tax rate for the S&P 100 in 2015 using the companies’ annual reports.
As opposed to the supposed 35% federal statutory corporate tax rate in the US, these companies paid an average rate around 28% for the year, including federal, state, and international taxes.
We’ve compiled a list of the 18 firms that WalletHub found which reported positive income and paid less than a 20% overall tax rate in 2015.
There is a wide variety of firms, but a few themes jump out. For one, a lot of pharmaceutical companies are getting tax breaks - 6 of the 18 companies in the list are related to pharmaceuticals or biotech. Additionally, tech firms did well too, with names such as PayPal and Qualcomm making the lowest 18.
We've got the full list below, so check it out.
Walgreens Boots Alliance
Ticker: WBA
Overall Tax Rate: 19.9%
State Tax Rate: 30.2%
Federal Tax Rate: 3.9%
International Tax Rate: N/A
Cisco
Ticker: CSCO
Overall Tax Rate: 19.8%
State Tax Rate: 45.5%
Federal Tax Rate: 3.1%
International Tax Rate: 6.3%
Johnson & Johnson
Ticker: JNJ
Overall Tax Rate: 19.7%
State Tax Rate: N/A
Federal Tax Rate: N/A
International Tax Rate: 9.1%
Intel
Ticker: INTC
Overall Tax Rate: 19.6%
State Tax Rate: 22.3%
Federal Tax Rate: N/A
International Tax Rate: N/A
Qualcomm
Ticker: QCOM
Overall Tax Rate: 18.8%
State Tax Rate: -2.5%
Federal Tax Rate: 0.2%
International Tax Rate: 36.9%
Bank of New York Mellon
Ticker: PCLN
Overall Tax Rate: 18.4%
State Tax Rate: 55.2%
Federal Tax Rate: 138.9%
International Tax Rate: 16.4%
Abbott Laboratories
Ticker: ABT
Overall Tax Rate: 18.1%
State Tax Rate: N/A
Federal Tax Rate: N/A
International Tax Rate: 8.4%
PayPal
Ticker: PYPL
Overall Tax Rate: 17.5%
State Tax Rate: Negative income
Federal Tax Rate: Negative income
International Tax Rate: N/A
Merck and Co.
Ticker: MRK
Overall Tax Rate: 17.4%
State Tax Rate: 8.0%
Federal Tax Rate: 3.6%
International Tax Rate: 21.6%
Alphabet
Ticker: GOOG
Overall Tax Rate: 16.8%
State Tax Rate: 36.7%
Federal Tax Rate: -5.3%
International Tax Rate: 6.2%
Gilead Sciences
Ticker: GILD
Overall Tax Rate: 16.4%
State Tax Rate: 40.9%
Federal Tax Rate: 1.7%
International Tax Rate: 1.2%
IBM
Ticker: IBM
Overall Tax Rate: 16.2%
State Tax Rate: 3.9%
Federal Tax Rate: 4.1%
International Tax Rate: 21.0%
Eli Lilly
Ticker: LLY
Overall Tax Rate: 13.7%
State Tax Rate: -3.0%
Federal Tax Rate: 5.6%
International Tax Rate: 19.6%
Amgen
Ticker: AMGN
Overall Tax Rate: 13.0%%
State Tax Rate: 21.6%
Federal Tax Rate: -1.0%
International Tax Rate: 5.8%
Twenty-First Century Fox
Ticker: FOXA
Overall Tax Rate: 12.6%%
State Tax Rate: N/A
Federal Tax Rate: N/A
International Tax Rate: Negative income
Mondelez International
Ticker: MDLZ
Overall Tax Rate: 7.5%
State Tax Rate: 107.0%
Federal Tax Rate: 7.0%
International Tax Rate: 6.9%
Chevron
Ticker: CVX
Overall Tax Rate: 2.7%
State Tax Rate: Negative income
Federal Tax Rate: Negative income
International Tax Rate: 23.6%
1. General Motors
Ticker: GM
Overall Tax Rate: -34.3%
State Tax Rate: 18.0%
Federal Tax Rate: 3.5%
International Tax Rate: Negative income
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