Corporate America is paying the lowest tax rate we’ve seen in over 40 years.
We found 706 Fortune 1000/S&P 500 companies that were profitable in the U.S. in 2025 and provided enough detail about their taxes to determine their tax rates. These companies collectively reported $1.88 trillion in U.S. profits, but they paid a federal income tax rate of just 10.4%. This is the lowest effective rate that ITEP has uncovered in over 40 years of analyzing corporate income taxes.
Among this group, 114 corporations paid no current federal income tax in 2025. That includes well-known companies like Tesla, Walt Disney, CVS, Citigroup, United Airlines, Palantir, and DoorDash.
Below you can see where these companies are located.
114 Profitable Corporations That Paid Zero Federal Income Tax in 2025
Hover or click on each bubble for details about the company that paid $0 and its U.S. profit in 2025
