Fortune 500 firms that have not paid federal taxes lately

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Corporate taxation has always been a controversial topic. While many believe corporations should pay higher taxes, corporations have both a duty to generate profits for their shareholders and the legal right to reduce their tax burdens to the fullest extent of the law. Still, it can be amazing that many of America’s best-known companies have not only failed to pay taxes in recent years, but have actually received multi-million dollar refunds.

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To determine the extent to which there are companies that have not paid taxes recently, GOBankingRates used the Institute for Taxes and Economic Policy’s “Corporate Tax Avoidance in First Year Trump Tax Act” piece to identify 84 Fortune 500 companies that did didn’t do this. t pay income tax in 2018, the year with the most recent data available.

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What stands out most about the data is not that there are 84 Fortune 500 companies that didn’t pay taxes, but that 82 of them actually received significant refunds. Of course, as with all data and statistics, these numbers need to be seen in context. A refund of $ 100 million or more does not mean a company has been circumventing tax laws. In many cases, large refunds are the result of large business losses or the receipt of tax credits for various qualified business activities. Still, some of the numbers open your eyes. So take a closer look at 20 of the biggest names on the list and see the rest at the end.

Last updated: January 25, 2021

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Alaska Air Group

  • Taxes paid: – $ 5 million

  • Tax rate: -0.9%

  • Benefit: $ 576 million

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Ally Finance

  • Taxes paid: – $ 12 million

  • Tax rate: -0.8%

  • Benefit: $ 1.587 billion

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MGM Resorts International

  • Taxes paid: – $ 12 million

  • Tax rate: -1.8%

  • Benefit: $ 648 million

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Netflix

  • Taxes paid: – $ 22 million

  • Tax rate: -2.5%

  • Benefit: $ 899 million

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Goodyear Rubber & Tires

  • Taxes paid: – $ 23 million

  • Tax rate: -5.2%

  • Benefit: $ 440 million

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Molson Coors

  • Taxes paid: – $ 23 million

  • Tax rate: -1.7%

  • Benefit: $ 1.325 billion

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Occidental Petroleum

  • Taxes paid: – $ 23 million

  • Tax rate: -0.7%

  • Benefit: $ 3.379 billion

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Levi Strauss

  • Taxes paid: – $ 25 million

  • Tax rate: -17.3%

  • Benefit: $ 145 million

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Nvidia

  • Taxes paid: – $ 32 million

  • Tax rate: -1.7%

  • Benefit: $ 1.843 billion

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Avis Budget Group

  • Taxes paid: – $ 37 million

  • Tax rate: -47.4%

  • Benefit: $ 78 million

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JetBlue Airways

  • Taxes paid: – $ 60 million

  • Tax rate:-27.4%

  • Benefit: $ 219 million

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Starbucks

  • Taxes paid: – $ 75 million

  • Tax rate: -1.6%

  • Benefit: $ 4.774 billion

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General Motors

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FedEx

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Amazon.com

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Chevron

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Delta Airlines

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Activision Blizzard

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Deere

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Duke Energy

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The rest of the list

Sanmina-SCI: Taxes Paid: $ 0

ABM Industries: Taxes Paid: $ 0

Andersons: Taxes Paid: – $ 1 million

AK Stahlholding: Taxes Paid: – $ 1 million

Cliffs natural resources: Taxes Paid: – $ 1 million

SpartanNash: Taxes Paid: – $ 2 million

Builders FirstSource: Taxes Paid: – $ 2 million

UGI: Taxes Paid: – $ 3 million

Beacon Roofing Supply: Taxes Paid: – $ 4 million

SPX: Taxes Paid: – $ 4 million

West skirt: Taxes Paid: – $ 4 million

Owens Corning: Taxes Paid: – $ 5 million

Health care principle: Taxes Paid: – $ 6 million

Mohawk Industries: Taxes Paid: – $ 6 million

DXC technology: Taxes Paid: – $ 6 million

Darden restaurants: Taxes Paid: – $ 7 million

INTL FCStone: Taxes Paid: – $ 10 million

Murphy Oil: Taxes Paid: – $ 10 million

Atmos Energy: Taxes Paid: – $ 10 million

Ameren: Taxes Paid: – $ 10 million

McKesson: Taxes Paid: – $ 10 million

Gannet: Taxes Paid: – $ 11 million

Reallogy: Taxes Paid: – $ 13 million

Penske Automotive Group: Taxes Paid: – $ 13 million

Devon Energy: Taxes Paid: – $ 14 million

MDU resources: Taxes Paid: – $ 16 million

FirstEnergy: Taxes Paid: – $ 16 million

Air Products & Chemicals: Taxes Paid: – $ 17 million

DTE Energy: Taxes Paid: – $ 17 million

Hartford Financial Services: Taxes Paid: – $ 18 million

Trinity Industries: Taxes Paid: – $ 19 million

Halliburton: Taxes Paid: – $ 19 million

PPL: Taxes Paid: – $ 19 million

Morgan children: Taxes Paid: – $ 22 million

tapestry: Taxes Paid:-$ 24 million

Pitney Bowes: Taxes Paid: – $ 26 million

Phillips-Van Heusen: Taxes Paid: – $ 31 million

American electrical energy: Taxes Paid: – $ 32 million

Xcel Energy: Taxes Paid: – $ 34 million

United States Steel: Taxes Paid: – $ 40 million

Rockwell Collins: Taxes Paid: – $ 40 million

PulteGroup: Taxes Paid: – $ 44 million

Dominion resources: Taxes Paid: – $ 44 million

Ryder system: Taxes Paid: – $ 47 million

Aramark: Taxes Paid: – $ 48 million

Eli Lilly: Taxes Paid: – $ 54 million

Home finance: Taxes Paid: – $ 55 million

Edison International: Taxes Paid: – $ 55 million

CMS Energy: Taxes Paid: – $ 67 million

Honeywell International: Taxes Paid: – $ 71 million

Freeport-McMoRan Copper & Gold: Taxes Paid: – $ 75 million

Williams: Taxes Paid: – $ 83 million

Corporate group for the public service: Taxes Paid: – $ 97 million

Whirlpool: Taxes Paid: – $ 110 million

DowDuPont: Taxes Paid: – $ 119 million

First dates: Taxes Paid: – $ 121 million

Celanese: Taxes Paid: – $ 142 million

Brighthouse Financial: Taxes Paid: – $ 166 million

AECOM technology: Taxes Paid: – $ 186 million

Prudential Financial: Taxes Paid: – $ 210 million

WEC Energy Group: Taxes paid; – $ 218 million

EOG resources: Taxes Paid: – $ 304 million

International business machines: Taxes Paid: – $ 342 million

CenturyLink: Taxes Paid: – $ 576 million

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Methodology: GOBankingRates used the Institute for Taxes and Economic Policy’s “Corporate Tax Avoidance in First Year Trump Tax Law” to find 84 Fortune 500 companies that paid US $ 0 income tax in 2018 (latest data available). GOBankingRates found (1) profit 2018; (2) taxes paid in 2018; and (3) tax rate for each company. All data was collected on and on January 4, 2021.

This article originally appeared on GOBankingRates.com: Fortune 500 Companies That Have Not Been Paying Federal Taxes Recently