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Most big tech companies don't come close to paying income taxes statutorily owed

This a 2022 report. It is the most current tax report for US big tech available on Spendwell.

rankings

MORE INFO
Corporations paying a greater share of their income in taxes rank higher.
better choice

Dell

taxes
economic impact
Over the last 5 years, Dell paid a combined income tax rate of about 35.83%. This rate is greater than the averaged US federal statutory corporate tax rate over the same period.

1/10

Cisco Systems

taxes
economic impact
Over the last 5 years, Cisco Systems paid a combined income tax rate of about 18.55%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

2/10

Microsoft

taxes
economic impact
Over the last 5 years, Microsoft paid a combined income tax rate of about 17.33%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

3/10

IBM

taxes
economic impact
Over the last 5 years, IBM paid a combined income tax rate of about 17.24%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

4/10

HP

taxes
economic impact
Over the last 5 years, HP paid a combined income tax rate of about 16.00%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

5/10

Apple

taxes
economic impact
Over the last 5 years, Apple paid a combined income tax rate of about 15.61%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

6/10

Alphabet

taxes
economic impact
Over the last 5 years, Alphabet paid a combined income tax rate of about 15.35%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

7/10

Meta

taxes
economic impact
Over the last 5 years, Meta paid a combined income tax rate of about 11.57%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

8/10

Intel

taxes
economic impact
Over the last 5 years, Intel paid a combined income tax rate of about 11.44%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

9/10

Amazon

taxes
economic impact
Over the last 5 years, Amazon paid a combined income tax rate of about 8.37%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

10/10

worse choice

report summary

Over the last 5 years, only one of the 10 largest corporations defined by Spendwell as belonging to the big tech sector, Dell, managed to pay combined federal, state and foreign income taxes at or above the federal statutory corporate income tax rate. The 5 year combined tax rate paid by these 10 big tech companies was less than 17% with one company, Amazon, paying an income tax rate less than 10%.

about this industry

Industry dominant companies having a primary business model focused on the software or hardware enabling the modern technological economy.
[beta*]

Tax Methodology

In the United States, publicly traded corporations are required to report their annual income tax payments to the Securities and Exchange Commission (SEC). Annual income figures are also reported by publicly traded companies to the SEC. These SEC-reported tax and income figures, when combined, represent publicly accessible, directly measurable and independently verified data points for inclusion in a Spendwell ranking. This data is typically reported at a corporation’s fiscal year end. This Spendwell ranking is predicated on the values-based statement that a corporation should pay its fair share in taxes.

Corporations that pay a higher percentage of their annual income in taxes rank higher than those paying a lower percentage. In order to account for fluctuations in tax payments such as one-time tax holidays and other variances, Spendwell reports on the last 5 available years of a corporation’s tax history.

In some reporting instances, Spendwell’s rankings will include private corporations with no current tax information publicly available. These corporations might be included in a report, but will be listed as not ranked unless they have voluntarily published their tax information and Spendwell has been made aware of its publication. All ranked corporations are ranked based on the previously mentioned data reported to the SEC through end-of-year or annual reports, which can be accessed through the SEC’s Edgar search tool here:

SEC EDGAR SEARCH

Search for a company by name to view its filed 10-k reports.

[All methodologies are in beta. They can and many will be revised before final release and updates will be likely for many even after final release.]
[beta*]

Tax Methodology

In the United States, publicly traded corporations are required to report their annual income tax payments to the Securities and Exchange Commission (SEC). Annual income figures are also reported by publicly traded companies to the SEC. These SEC-reported tax and income figures, when combined, represent publicly accessible, directly measurable and independently verified data points for inclusion in a Spendwell ranking. This data is typically reported at a corporation’s fiscal year end. This Spendwell ranking is predicated on the values-based statement that a corporation should pay its fair share in taxes.

Corporations that pay a higher percentage of their annual income in taxes rank higher than those paying a lower percentage. In order to account for fluctuations in tax payments such as one-time tax holidays and other variances, Spendwell reports on the last 5 available years of a corporation’s tax history.

In some reporting instances, Spendwell’s rankings will include private corporations with no current tax information publicly available. These corporations might be included in a report, but will be listed as not ranked unless they have voluntarily published their tax information and Spendwell has been made aware of its publication. All ranked corporations are ranked based on the previously mentioned data reported to the SEC through end-of-year or annual reports, which can be accessed through the SEC’s Edgar search tool here:

SEC EDGAR SEARCH

Search for a company by name to view its filed 10-k reports.

[*All methodologies are in beta. They can and many will be revised before final release and updates will be likely for many even after final release.]

Ranking



rankings

MORE INFO
Corporations paying a greater share of their income in taxes rank higher.
better choice

Dell

taxes
economic impact
Over the last 5 years, Dell paid a combined income tax rate of about 35.83%. This rate is greater than the averaged US federal statutory corporate tax rate over the same period.

1/10

Cisco Systems

taxes
economic impact
Over the last 5 years, Cisco Systems paid a combined income tax rate of about 18.55%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

2/10

Microsoft

taxes
economic impact
Over the last 5 years, Microsoft paid a combined income tax rate of about 17.33%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

3/10

IBM

taxes
economic impact
Over the last 5 years, IBM paid a combined income tax rate of about 17.24%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

4/10

HP

taxes
economic impact
Over the last 5 years, HP paid a combined income tax rate of about 16.00%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

5/10

Apple

taxes
economic impact
Over the last 5 years, Apple paid a combined income tax rate of about 15.61%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

6/10

Alphabet

taxes
economic impact
Over the last 5 years, Alphabet paid a combined income tax rate of about 15.35%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

7/10

Meta

taxes
economic impact
Over the last 5 years, Meta paid a combined income tax rate of about 11.57%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

8/10

Intel

taxes
economic impact
Over the last 5 years, Intel paid a combined income tax rate of about 11.44%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

9/10

Amazon

taxes
economic impact
Over the last 5 years, Amazon paid a combined income tax rate of about 8.37%. This rate is less than the averaged US federal statutory corporate tax rate over the same period.

10/10

worse choice


This report is based on data collected through 2022-04-20.
Report id: 30--2022-08-10T07:32:47.300Z