19 Big Companies That Paid Almost Nothing – or Nothing at All – in Taxes in 2021 – Page 2

Special Report

May 4, 2022 3:00 pm

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19. United Parcel Service
> US federal effective tax rate: 9.9%
> Pre-tax US earnings minus state and local taxes owed: $14 billion
> Current US federal income tax expense: $1.4 billion

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18. Microsoft Corp.
> US federal effective tax rate: 9.7%
> Pre-tax US earnings minus state and local taxes owed: $33.7 billion
> Current US federal income tax expense: $3.3 billion

ALSO READ: Corporations That Made Skyrocketing Profits in 2021

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17. Coca-Cola Co.
> US federal effective tax rate: 7.1%
> Pre-tax US earnings minus state and local taxes owed: $3.4 billion
> Current US federal income tax expense: $243 million

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16. Verizon Communications
> US federal effective tax rate: 6.9%
> Pre-tax US earnings minus state and local taxes owed: $27.2 billion
> Current US federal income tax expense: $1.9 billion

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15. Amazon.com Inc.
> US federal effective tax rate: 6.1%
> Pre-tax US earnings minus state and local taxes owed: $35.1 billion
> Current US federal income tax expense: $2.1 billion

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