Wednesday, April 3, 2013

It Would Be Interesting To See the Taxes Paid By The Ten Most Successful Renewable Energy Companies

At CarpeDiem from a WSJ article linked earlier, the ten corporations paying the most in taxes in 2012:
Matthews points out that the two biggest corporate taxpayers last year were oil giants ExxonMobil and Chevron, and along with No. 6 ConocoPhillips, the three oil companies paid more in taxes last year ($59 billion) than the other seven companies combined. As the chart above shows, the Big Oil companies also paid much higher effective tax rates than the other companies on the list – the 51.5% effective tax rate of ConocoPhillips was more twice the rates paid by Apple (25.4%), IBM (24.2%) and Microsoft (22.8%).
Go to CarpeDiem, linked above, for the full article. 

It was interesting to note that President Obama's economic advisor's company (GE) did not make the list. Perhaps an honorable mention.

#1, #2, and #6: company; taxes paid; effective tax rate.
  • #1: ExxonMobil, $31 billion (with a "b"), 39%
  • #2: Chevron, $20 billion, 43%
  • #6: Conoco, $8 billion, 52%
Conoco spun off Phillips 66 (refining and marketing) in 2012, which accounts for the delta (between #6 and the two at the top. Add in PSX (Phillips 66) tax to get full story.

As noted, it would be interesting to see what the top ten renewable energy companies paid in taxes (or received in tax credits).

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