Apple, other tech companies pay more than 25 percent lower taxes abroad

Tech companies, including Apple, Cisco Systems and Google, are still paying more than 25 percent lower rates abroad, continuing the trend from 2013, according to WalletHub’s S&P 100 Tax Rates report. The report provides an in-depth analysis of the 2014 rates at which S&P 100 companies — collectively worth more than $11 trillion as of Sept. 30 — are taxed at the state, federal and international levels.

For 2014, Apple’s overall tax rate was 26.1%. Its state, federal and international tax rates were 3.4%, 59%, and 4.4%, respectively.

According to WalletHub, the overall tax rate that S&P 100 companies pay is basically unchanged compared with 2013. S&P 100 companies pay roughly 24 percent lower rates on international taxes than U.S. taxes. Only one S&P 100 company is actually paying a negative overall tax rate and is therefore due a discrete net tax benefit: Morgan Stanley.

Among the remaining companies that owe taxes, Allergan, Amgen, General Electric, General Motors and Mondelez International pay the lowest rates. The average S&P 100 company pays an 11 percent higher tax rate than the top 3 percent of consumers.

For the full S&P 100 Tax Rate report, go here. WalletHub is a “one-stop destination for all the tools and information consumers and small business owners need to make better financial decisions and save money.”