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39 companies that paid zero federal taxes last year | To identify the companies that pay no tax, 24/7 Wall St. reviewed the July 29, 2021, report “Corporate Tax Avoidance Under the Tax Cuts and Jobs Act” from Institute on Taxation and Economic Policy. Companies are ranked by their effective tax rate. Market values and year-to-date stock price gains are as of the first week of November.
39. NRG Energy, Inc. | Effective federal tax rate 2018-2020: 0.0% - Federal income tax, 2018-2020: $0 - Total pre-tax income, 2018-2020: $1.96 billions - Total federal income tax breaks, 2018-2020: $411 millions
39. NRG Energy, Inc. | Effective federal tax rate 2018-2020: 0.0% – Federal income tax, 2018-2020: $0 – Total pre-tax income, 2018-2020: $1.96 billions – Total federal income tax breaks, 2018-2020: $411 millions
38. Oneok, Inc. | Effective federal tax rate 2018-2020: 0.0% - Federal income tax, 2018-2020: $0 - Total pre-tax income, 2018-2020: $3.97 billions - Total federal income tax breaks, 2018-2020: $833 millions
38. Oneok, Inc. | Effective federal tax rate 2018-2020: 0.0% – Federal income tax, 2018-2020: $0 – Total pre-tax income, 2018-2020: $3.97 billions – Total federal income tax breaks, 2018-2020: $833 millions
37. Sanmina Corporation | Effective federal tax rate 2018-2020: -0.1% - Federal income tax, 2018-2020: $0 - Total pre-tax income, 2018-2020: 262 millions - Total federal income tax breaks, 2018-2020: $55 millions
37. Sanmina Corporation | Effective federal tax rate 2018-2020: -0.1% – Federal income tax, 2018-2020: $0 – Total pre-tax income, 2018-2020: 262 millions – Total federal income tax breaks, 2018-2020: $55 millions
36. Advanced Micro Devices Inc. | Effective federal tax rate 2018-2020: -0.1% - Federal income tax, 2018-2020: -$1 millions - Total pre-tax income, 2018-2020: $1.66 billions - Total federal income tax breaks, 2018-2020: $349 million
36. Advanced Micro Devices Inc. | Effective federal tax rate 2018-2020: -0.1% – Federal income tax, 2018-2020: -$1 millions – Total pre-tax income, 2018-2020: $1.66 billions – Total federal income tax breaks, 2018-2020: $349 million
35. Archer Daniels Midland Co. | Effective federal tax rate 2018-2020: -0.1% - Federal income tax, 2018-2020: -$2 millions - Total pre-tax income, 2018-2020: $2.13 billions - Total federal income tax breaks, 2018-2020: $449 millions
35. Archer Daniels Midland Co. | Effective federal tax rate 2018-2020: -0.1% – Federal income tax, 2018-2020: -$2 millions – Total pre-tax income, 2018-2020: $2.13 billions – Total federal income tax breaks, 2018-2020: $449 millions
34. Salesforce.com Inc. | Effective federal tax rate 2018-2020: -0.1% - Federal income tax, 2018-2020: -$4 millions -- #33 largest refund - Total pre-tax income, 2018-2020: $4.08 billions - Total federal income tax breaks, 2018-2020: $861 millions
34. Salesforce.com Inc. | Effective federal tax rate 2018-2020: -0.1% – Federal income tax, 2018-2020: -$4 millions — #33 largest refund – Total pre-tax income, 2018-2020: $4.08 billions – Total federal income tax breaks, 2018-2020: $861 millions
33. Principal Financial Group Inc. | Effective federal tax rate 2018-2020: -0.2% - Federal income tax, 2018-2020: -$7 millions - Total pre-tax income, 2018-2020: $4.31 billions - Total federal income tax breaks, 2018-2020: $911 millions
33. Principal Financial Group Inc. | Effective federal tax rate 2018-2020: -0.2% – Federal income tax, 2018-2020: -$7 millions – Total pre-tax income, 2018-2020: $4.31 billions – Total federal income tax breaks, 2018-2020: $911 millions
32. Dish Network Corp. | Effective federal tax rate 2018-2020: -0.2% - Federal income tax, 2018-2020: -$13 millions - Total pre-tax income, 2018-2020: $6.58 billions
32. Dish Network Corp. | Effective federal tax rate 2018-2020: -0.2% – Federal income tax, 2018-2020: -$13 millions – Total pre-tax income, 2018-2020: $6.58 billions
31. Ally Financial Inc | Effective federal tax rate 2018-2020: -0.3% - Federal income tax, 2018-2020: -$14 millions - Total pre-tax income, 2018-2020: $4.82 billions - Total federal income tax breaks, 2018-2020: $1.03 billions
31. Ally Financial Inc | Effective federal tax rate 2018-2020: -0.3% – Federal income tax, 2018-2020: -$14 millions – Total pre-tax income, 2018-2020: $4.82 billions – Total federal income tax breaks, 2018-2020: $1.03 billions
30. Alliant Energy Corp. | Effective federal tax rate 2018-2020: -0.4% - Federal income tax, 2018-2020: -$7 millions - Total pre-tax income, 2018-2020: $1.75 billions - Total federal income tax breaks, 2018-2020: $373 millions
30. Alliant Energy Corp. | Effective federal tax rate 2018-2020: -0.4% – Federal income tax, 2018-2020: -$7 millions – Total pre-tax income, 2018-2020: $1.75 billions – Total federal income tax breaks, 2018-2020: $373 millions
29. Ameren Corp. | Effective federal tax rate 2018-2020: -0.4% - Federal income tax, 2018-2020: -$12 millions - Total pre-tax income, 2018-2020: $3.06 billions - Total federal income tax breaks, 2018-2020: $655 millions
29. Ameren Corp. | Effective federal tax rate 2018-2020: -0.4% – Federal income tax, 2018-2020: -$12 millions – Total pre-tax income, 2018-2020: $3.06 billions – Total federal income tax breaks, 2018-2020: $655 millions
28. SpartanNash Co | Effective federal tax rate 2018-2020: -0.5% - Federal income tax, 2018-2020: -$1 millions - Total pre-tax income, 2018-2020: 123 millions - Total federal income tax breaks, 2018-2020: $26 millions
28. SpartanNash Co | Effective federal tax rate 2018-2020: -0.5% – Federal income tax, 2018-2020: -$1 millions – Total pre-tax income, 2018-2020: 123 millions – Total federal income tax breaks, 2018-2020: $26 millions
27. Atmos Energy Corp. | Effective federal tax rate 2018-2020: -0.5% - Federal income tax, 2018-2020: -$10 millions - Total pre-tax income, 2018-2020: $1.99 billions - Total federal income tax breaks, 2018-2020: $428 millions
27. Atmos Energy Corp. | Effective federal tax rate 2018-2020: -0.5% – Federal income tax, 2018-2020: -$10 millions – Total pre-tax income, 2018-2020: $1.99 billions – Total federal income tax breaks, 2018-2020: $428 millions
26. T-Mobile US Inc. | Effective federal tax rate 2018-2020: -0.7% - Federal income tax, 2018-2020: -$80 millions - Total pre-tax income, 2018-2020: $11.52 billions - Total federal income tax breaks, 2018-2020: $2.50 billions
26. T-Mobile US Inc. | Effective federal tax rate 2018-2020: -0.7% – Federal income tax, 2018-2020: -$80 millions – Total pre-tax income, 2018-2020: $11.52 billions – Total federal income tax breaks, 2018-2020: $2.50 billions
25. Kinder Morgan Inc. | Effective federal tax rate 2018-2020: -0.9% - Federal income tax, 2018-2020: -$44 millions - Total pre-tax income, 2018-2020: $4.91 billions - Total federal income tax breaks, 2018-2020: $1.08 billions
25. Kinder Morgan Inc. | Effective federal tax rate 2018-2020: -0.9% – Federal income tax, 2018-2020: -$44 millions – Total pre-tax income, 2018-2020: $4.91 billions – Total federal income tax breaks, 2018-2020: $1.08 billions
24. FirstEnergy Corp. | Effective federal tax rate 2018-2020: -1.2% - Federal income tax, 2018-2020: -$46 millions - Total pre-tax income, 2018-2020: $3.70 billions - Total federal income tax breaks, 2018-2020: $822 millions
24. FirstEnergy Corp. | Effective federal tax rate 2018-2020: -1.2% – Federal income tax, 2018-2020: -$46 millions – Total pre-tax income, 2018-2020: $3.70 billions – Total federal income tax breaks, 2018-2020: $822 millions
23. PPL Corp | Effective federal tax rate 2018-2020: -1.3% - Federal income tax, 2018-2020: -$38 millions - Total pre-tax income, 2018-2020: $2.93 billions - Total federal income tax breaks, 2018-2020: $654 millions
23. PPL Corp | Effective federal tax rate 2018-2020: -1.3% – Federal income tax, 2018-2020: -$38 millions – Total pre-tax income, 2018-2020: $2.93 billions – Total federal income tax breaks, 2018-2020: $654 millions
22. Edison International | Effective federal tax rate 2018-2020: -1.3% - Federal income tax, 2018-2020: -$44 millions - Total pre-tax income, 2018-2020: $3.31 billions - Total federal income tax breaks, 2018-2020: $739 millions
22. Edison International | Effective federal tax rate 2018-2020: -1.3% – Federal income tax, 2018-2020: -$44 millions – Total pre-tax income, 2018-2020: $3.31 billions – Total federal income tax breaks, 2018-2020: $739 millions
21. Xcel Energy, Inc. | Effective federal tax rate 2018-2020: -1.4% - Federal income tax, 2018-2020: -$63 millions - Total pre-tax income, 2018-2020: $4.40 billions - Total federal income tax breaks, 2018-2020: $986 millions
21. Xcel Energy, Inc. | Effective federal tax rate 2018-2020: -1.4% – Federal income tax, 2018-2020: -$63 millions – Total pre-tax income, 2018-2020: $4.40 billions – Total federal income tax breaks, 2018-2020: $986 millions
20. Westlake Chemical Corp | Effective federal tax rate 2018-2020: -1.7% - Federal income tax, 2018-2020: -$30 millions - Total pre-tax income, 2018-2020: $1.74 billions - Total federal income tax breaks, 2018-2020: $395 millions
20. Westlake Chemical Corp | Effective federal tax rate 2018-2020: -1.7% – Federal income tax, 2018-2020: -$30 millions – Total pre-tax income, 2018-2020: $1.74 billions – Total federal income tax breaks, 2018-2020: $395 millions
19. FedEx Corp | Effective federal tax rate 2018-2020: -1.7% - Federal income tax, 2018-2020: -$138 millions - Total pre-tax income, 2018-2020: $8.25 billions - Total federal income tax breaks, 2018-2020: $1.87 billions
19. FedEx Corp | Effective federal tax rate 2018-2020: -1.7% – Federal income tax, 2018-2020: -$138 millions – Total pre-tax income, 2018-2020: $8.25 billions – Total federal income tax breaks, 2018-2020: $1.87 billions
18. Ball Corp | Effective federal tax rate 2018-2020: -1.8% - Federal income tax, 2018-2020: -$11 millions - Total pre-tax income, 2018-2020: 598 millions - Total federal income tax breaks, 2018-2020: $137 millions
18. Ball Corp | Effective federal tax rate 2018-2020: -1.8% – Federal income tax, 2018-2020: -$11 millions – Total pre-tax income, 2018-2020: 598 millions – Total federal income tax breaks, 2018-2020: $137 millions
17. American Electric Power Company Inc. | Effective federal tax rate 2018-2020: -3.0% - Federal income tax, 2018-2020: -$177 millions - Total pre-tax income, 2018-2020: $5.94 billions - Total federal income tax breaks, 2018-2020: $1.42 billions
17. American Electric Power Company Inc. | Effective federal tax rate 2018-2020: -3.0% – Federal income tax, 2018-2020: -$177 millions – Total pre-tax income, 2018-2020: $5.94 billions – Total federal income tax breaks, 2018-2020: $1.42 billions
16. UGI Corp. | Effective federal tax rate 2018-2020: -3.2% - Federal income tax, 2018-2020: -$36 millions - Total pre-tax income, 2018-2020: $1.13 billions - Total federal income tax breaks, 2018-2020: $273 millions
16. UGI Corp. | Effective federal tax rate 2018-2020: -3.2% – Federal income tax, 2018-2020: -$36 millions – Total pre-tax income, 2018-2020: $1.13 billions – Total federal income tax breaks, 2018-2020: $273 millions
15. Mohawk Industries, Inc. | Effective federal tax rate 2018-2020: -3.3% - Federal income tax, 2018-2020: -$20 millions - Total pre-tax income, 2018-2020: 611 millions - Total federal income tax breaks, 2018-2020: $148 millions
15. Mohawk Industries, Inc. | Effective federal tax rate 2018-2020: -3.3% – Federal income tax, 2018-2020: -$20 millions – Total pre-tax income, 2018-2020: 611 millions – Total federal income tax breaks, 2018-2020: $148 millions
14. Textron Inc. | Effective federal tax rate 2018-2020: -3.3% - Federal income tax, 2018-2020: -$46 millions -Total pre-tax income, 2018-2020: $1.40 billions - Total federal income tax breaks, 2018-2020: $340 millions
14. Textron Inc. | Effective federal tax rate 2018-2020: -3.3% – Federal income tax, 2018-2020: -$46 millions -Total pre-tax income, 2018-2020: $1.40 billions – Total federal income tax breaks, 2018-2020: $340 millions
13. Williams Cos Inc. | Effective federal tax rate 2018-2020: -4.8% - Federal income tax, 2018-2020: -$153 millions - Total pre-tax income, 2018-2020: $3.19 billions - Total federal income tax breaks, 2018-2020: $822 millions
13. Williams Cos Inc. | Effective federal tax rate 2018-2020: -4.8% – Federal income tax, 2018-2020: -$153 millions – Total pre-tax income, 2018-2020: $3.19 billions – Total federal income tax breaks, 2018-2020: $822 millions
12. Penske Automotive Group Inc. | Effective federal tax rate 2018-2020: -5.1% - Federal income tax, 2018-2020: -$68 millions - Total pre-tax income, 2018-2020: $1.32 billions - Total federal income tax breaks, 2018-2020: $345 millions
12. Penske Automotive Group Inc. | Effective federal tax rate 2018-2020: -5.1% – Federal income tax, 2018-2020: -$68 millions – Total pre-tax income, 2018-2020: $1.32 billions – Total federal income tax breaks, 2018-2020: $345 millions
11. CMS Energy Corporation | Effective federal tax rate 2018-2020: -5.3% - Federal income tax, 2018-2020: -$133 millions - Total pre-tax income, 2018-2020: $2.49 billions - Total federal income tax breaks, 2018-2020: $655 millions
11. CMS Energy Corporation | Effective federal tax rate 2018-2020: -5.3% – Federal income tax, 2018-2020: -$133 millions – Total pre-tax income, 2018-2020: $2.49 billions – Total federal income tax breaks, 2018-2020: $655 millions
10. Dominion Resources | Effective federal tax rate 2018-2020: -5.3% - Federal income tax, 2018-2020: -$327 millions - Total pre-tax income, 2018-2020: $6.14 billions - Total federal income tax breaks, 2018-2020: $1.62 billions
10. Dominion Resources | Effective federal tax rate 2018-2020: -5.3% – Federal income tax, 2018-2020: -$327 millions – Total pre-tax income, 2018-2020: $6.14 billions – Total federal income tax breaks, 2018-2020: $1.62 billions
9. Celanese Corp | Effective federal tax rate 2018-2020: -6.0% - Federal income tax, 2018-2020: -$135 millions - Total pre-tax income, 2018-2020: $2.26 billions - Total federal income tax breaks, 2018-2020: $610 millions
9. Celanese Corp | Effective federal tax rate 2018-2020: -6.0% – Federal income tax, 2018-2020: -$135 millions – Total pre-tax income, 2018-2020: $2.26 billions – Total federal income tax breaks, 2018-2020: $610 millions
8. Evergy Inc | Effective federal tax rate 2018-2020: -6.4% - Federal income tax, 2018-2020: -$134 millions - Total pre-tax income, 2018-2020: $2.08 billions - Total federal income tax breaks, 2018-2020: $570 millions
8. Evergy Inc | Effective federal tax rate 2018-2020: -6.4% – Federal income tax, 2018-2020: -$134 millions – Total pre-tax income, 2018-2020: $2.08 billions – Total federal income tax breaks, 2018-2020: $570 millions
7. Juniper Networks Inc | Effective federal tax rate 2018-2020: -7.5% - Federal income tax, 2018-2020: -$47 millions - Total pre-tax income, 2018-2020: 617 millions - Total federal income tax breaks, 2018-2020: $176 millions
7. Juniper Networks Inc | Effective federal tax rate 2018-2020: -7.5% – Federal income tax, 2018-2020: -$47 millions – Total pre-tax income, 2018-2020: 617 millions – Total federal income tax breaks, 2018-2020: $176 millions
6. Cabot Oil & Gas | Effective federal tax rate 2018-2020: -8.6% - Federal income tax, 2018-2020: -$157 millions - Total pre-tax income, 2018-2020: $1.83 billions - Total federal income tax breaks, 2018-2020: $540 millions
6. Cabot Oil & Gas | Effective federal tax rate 2018-2020: -8.6% – Federal income tax, 2018-2020: -$157 millions – Total pre-tax income, 2018-2020: $1.83 billions – Total federal income tax breaks, 2018-2020: $540 millions
5. DTE Energy Co. | Effective federal tax rate 2018-2020: -11.0% - Federal income tax, 2018-2020: -$448 millions - Total pre-tax income, 2018-2020: $4.06 billions - Total federal income tax breaks, 2018-2020: $1.30 billions
5. DTE Energy Co. | Effective federal tax rate 2018-2020: -11.0% – Federal income tax, 2018-2020: -$448 millions – Total pre-tax income, 2018-2020: $4.06 billions – Total federal income tax breaks, 2018-2020: $1.30 billions
4. Booz Allen Hamilton Holding Corp | Effective federal tax rate 2018-2020: -11.7% - Federal income tax, 2018-2020: -$196 millions - Total pre-tax income, 2018-2020: $1.67 billions - Total federal income tax breaks, 2018-2020: $547 millions
4. Booz Allen Hamilton Holding Corp | Effective federal tax rate 2018-2020: -11.7% – Federal income tax, 2018-2020: -$196 millions – Total pre-tax income, 2018-2020: $1.67 billions – Total federal income tax breaks, 2018-2020: $547 millions
3. Duke Energy Corp. | Effective federal tax rate 2018-2020: -15.5% - Federal income tax, 2018-2020: -$1.23 billions - Total pre-tax income, 2018-2020: $7.91 billions - Total federal income tax breaks, 2018-2020: $2.89 billions
3. Duke Energy Corp. | Effective federal tax rate 2018-2020: -15.5% – Federal income tax, 2018-2020: -$1.23 billions – Total pre-tax income, 2018-2020: $7.91 billions – Total federal income tax breaks, 2018-2020: $2.89 billions
2. Telephone And Data Systems, Inc. | Effective federal tax rate 2018-2020: -25.5% - Federal income tax, 2018-2020: -$150 millions - Total pre-tax income, 2018-2020: 589 millions - Total federal income tax breaks, 2018-2020: $274 millions
2. Telephone And Data Systems, Inc. | Effective federal tax rate 2018-2020: -25.5% – Federal income tax, 2018-2020: -$150 millions – Total pre-tax income, 2018-2020: 589 millions – Total federal income tax breaks, 2018-2020: $274 millions
1. Agilent Technologies Inc. | Effective federal tax rate 2018-2020: -41.0% - Federal income tax, 2018-2020: -$165 millions - Total pre-tax income, 2018-2020: 402 millions - Total federal income tax breaks, 2018-2020: $249 millions
1. Agilent Technologies Inc. | Effective federal tax rate 2018-2020: -41.0% – Federal income tax, 2018-2020: -$165 millions – Total pre-tax income, 2018-2020: 402 millions – Total federal income tax breaks, 2018-2020: $249 millions