Which Mega-Caps Aren't Paying Taxes?
The graph below was produced by Capital Market Labs.
While the Federal government tax code officially charges corporations a top statutory tax rate of 35 percent, that’s not what (all) companies are paying.
If one looks at the largest companies in the United Sates by earnings, they may be surprised at the actual (effective) tax rates paid:
The extreme case is General Electric Company (NYSE: GE), with nearly $13 billion in net (after tax) income, and a tax bill of less than 4 percent. Johnson & Johnson (NYSE: JNJ) pays just over 10 percent on more than $15 billion of net income.
The top three tax payers are all Big Oil.
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