Chizzang wrote:GannonFan wrote:
Well, in Chizzie's defense, it appears as if the article itself was in disagreement with their own findings. In one line they say ExxonMobil paid a negative rate, and then in the table they showed them paying a positive rate. I think they need skellykelly's help with the visual aids. Either that or they multiplied some number by 6.93. Tough call.
Something like that...
Oil companies love including - in their tax information - the state taxes applied right at the pump
they show that figure in EVERY article posted
and that is precisely NOT what is being discussed
but its an old trick and has worked for years in this debate
But when you include rebates and loopholes and credit and associated other factors
in the end Exxon Mobile pays very little in federal taxes
and I'm perfectly fine with that
I like how the world is today - it totally works great for me
Do not confuse information with dissatisfaction

Posted this on a thread 2 years ago, so 2012 tax info.
"
Which Corporate Giants Pay The Most In Taxes?
1. ExxonMobil
Income tax expense: $31 billion
Net income: $45 billion
Effective tax rate: 39%
2. Chevron
The oil giant pay among the highest tax rates because of overseas royalties that float with the price of oil.
Income tax expense: $20 billion
Net income: $26 billion
Effective tax rate: 43%
3. Apple
Income tax expense: $14.2 billion
Net income: $41.7 billion
Effective tax rate: 25%
4. Wells Fargo
Income tax expense: $9.2 billion
Net income: $19.8 billion
Effective tax rate: 31.2%
5. JPMorgan Chase
Income tax expense: $8.1 billion
Net income: $22.9 billion
Effective tax rate: 26%
6. Walmart
Income tax expense: $8 billion
Net income: $17 billion
Effective tax rate: 31%
7. ConocoPhillips
Conoco paid the highest effective tax rate of any company on the list.
Income tax expense: $7.9 billion
Net income: $8.4 billion
Effective tax rate: 51.5%
8. Berkshire Hathaway
Still complaining about paying a lower tax rate than his secretary, Buffett could just do us all a favor and pay double to the U.S. Treasury.
Income tax expense: $6.9 billion
Net income: $14.8 billion
Effective tax rate: 28%
9. IBM
Big Blue has in recent years shifted tens of thousands of jobs from the U.S. to lower-cost (and lower-taxed) India.
Income tax expense: $5.3 billion
Net income: $16.6 billion
Effective tax rate: 24%
10. Microsoft
Microsoft saves on taxes by routing revenues through the likes of low-tax Ireland, Singapore and Puerto Rico.
Income tax expense: $4.6 billion
Net income: $15.5 billion
Effective tax rate: 22.8%
11. Philip Morris International
Philip Morris sells smokes outside the U.S. and is triple the size of sister company Altria.
Income tax expense: $3.8 billion
Net income: $8.8 billion
Effective tax rate: 29.5%
12. Goldman Sachs
Income tax expense: $3.7 billion
Net income: $7.6 billion
Effective tax rate: 33%
13. Comcast
Income tax expense: $3.7 billion
Net income: $6.2 billion
Effective tax rate: 32%
14. Procter & Gamble
Tide, Gillette, Pampers, Duracell, Crest, Braun, Pantene, and on and on.
Income tax expense: $3.6 billion
Net income: $12.9 billion
Effective tax rate: 23.5%
15. Johnson & Johnson
Band-Aids, Listerine, Tylenol, Neutrogena, Rolaids, Visine, etc.
Income tax expense: $3.3 billion
Net income: $10.9 billion
Effective tax rate: 23.7%
16. Intel
Income tax expense: $3.2 billion
Net income: $10.3 billion
Effective tax rate: 23.6%
17. Occidental Petroleum
Income tax expense: $3.1 billion
Net income: $4.6 billion
Effective tax rate: 42%
18. UnitedHealth Group
Biggest health insurer is bracing for Obamacare, which will set profit margins.
Income tax expense: $3.1 billion
Net income: $5.5 billion
Effective tax rate: 35.9%
19. Walt Disney
Income tax expense: $3 billion
Net income: $5.6 billion
Effective tax rate: 32.7%
20. AT&T
Income tax expense: $2.9 billion
Net income: $7.3 billion
Effective tax rate: 27.8%
21. Oracle
Larry Ellison plans a winter sailing base on his recently purchased Hawaiian island of Lanai.
Income tax expense: $2.9 billion
Net income: $10.6 billion
Effective tax rate: 21.4%
22. Coca-Cola Company
Income tax expense: $2.7 billion
Net income: $9 billion
Effective tax rate: 23.1%
23. Home Depot
Home Depot has the highest tax rate of any non-oil company on this list.
Income tax expense: $2.7 billion
Net income: $4.5 billion
Effective tax rate: 37.2%
24. McDonald's
CEO Jeff Skinner has been outspoken about the need to cut U.S. corporate taxes.
Income tax expense: $2.6 billion
Net income: $5.5 billion
Effective tax rate: 32.4%
25. Google
Google is under fire in the U.K. for paying just $9 million in taxes on $3.8 billion in revenues there.
Income tax expense: $2.6 billion
Net income: $10.7 billion
Effective tax rate: 19.4%"
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