$ Taxes  Effective Tax Rates Cash Tax Rates
Industry name Number of firms Total Taxable Income Total Taxes Paid (Accrual) Total Cash Taxes Paid Cash Taxes/Accrual Taxes Average across all companies Average across only money-making companies Aggregate tax rate Average across only money-making companies2 Aggregate tax rate3
Advertising 57  $                          4,172.86  $                                                 857.71 944.297 110.10% 5.44% 20.55% 50.38% 22.63% 89.75%
Aerospace/Defense 70  $                        29,914.08  $                                               4,621.69 7637.455 165.25% 7.28% 15.45% 19.76% 25.53% 31.54%
Air Transport 25  $                        11,687.65  $                                               2,749.96 55.895 2.03% 8.62% 23.53% 27.86% 0.48% 0.63%
Apparel 38  $                          4,903.20  $                                               1,577.16 2390.701 151.58% 10.19% 32.17% 46.54% 48.76% 57.58%
Auto & Truck 34  $                        32,131.50  $                                               4,243.60 3631.853 85.58% 3.12% 13.21% 20.76% 11.30% 17.76%
Auto Parts 39  $                          4,706.51  $                                               1,315.49 1216.768 92.50% 14.62% 27.95% 40.15% 25.85% 36.28%
Bank (Money Center) 15  $                       170,152.21  $                                             26,986.42 19450.96 72.08% 17.69% 15.86% 15.86% 11.43% 11.43%
Banks (Regional) 625  $                        75,538.75  $                                             15,654.75 45591.939 291.23% 17.69% 20.72% 21.28% 60.36% 62.81%
Beverage (Alcoholic) 19  $                          3,808.36  $                                                 974.77 659 67.61% 10.42% 25.60% 27.00% 17.30% 18.89%
Beverage (Soft) 29  $                        29,003.20  $                                               5,431.90 6432.218 118.42% 6.68% 18.73% 18.80% 22.18% 22.26%
Broadcasting 22  $                          3,005.35  $                                                 789.54 990.19 125.41% 7.85% 26.27% NA 32.95% NA
Brokerage & Investment Banking 27  $                        40,124.35  $                                               8,444.84 9713.34 115.02% 16.84% 21.05% 21.53% 24.21% 24.77%
Building Materials 44  $                        14,688.34  $                                               3,635.23 4331.486 119.15% 19.94% 24.75% 25.62% 29.49% 30.53%
Business & Consumer Services 162  $                        22,353.22  $                                               5,418.98 6596.256 121.73% 10.84% 24.24% 27.69% 29.51% 33.88%
Cable TV 10  $                        33,138.10  $                                               8,468.50 7604.8 89.80% 23.72% 25.56% 25.51% 22.95% 23.21%
Chemical (Basic) 32  $                          8,121.43  $                                               1,946.81 2623.514 134.76% 8.93% 23.97% 27.19% 32.30% 39.99%
Chemical (Diversified) 4  $                            242.70  $                                                 107.50 237.85 221.26% 14.89% 44.29% NA 98.00% NA
Chemical (Specialty) 68  $                        26,591.13  $                                               4,857.32 8256.706 169.98% 10.40% 18.27% 14.91% 31.05% 34.05%
Coal & Related Energy 18  $                          2,549.66  $                                                 334.67 115.7 34.57% 2.62% 13.13% 16.46% 4.54% 5.68%
Computer Services 72  $                        19,145.09  $                                               3,610.70 5349.031 148.14% 7.78% 18.86% 22.96% 27.94% 31.41%
Computers/Peripherals 36  $                       126,037.97  $                                             18,416.49 21844.385 118.61% 8.67% 14.61% 14.77% 17.33% 17.71%
Construction Supplies 45  $                        28,800.49  $                                               6,452.02 6115.357 94.78% 14.91% 22.40% 23.36% 21.23% 22.12%
Diversified 23  $                       114,303.69  $                                             20,176.70 11117.769 55.10% 5.25% 17.65% 17.05% 9.73% 10.85%
Drugs (Biotechnology) 572  $                        37,428.66  $                                               6,143.58 16207.94 263.82% 0.81% 16.41% NA 43.30% NA
Drugs (Pharmaceutical) 245  $                        56,577.02  $                                               8,443.94 24930.01 295.24% 2.89% 14.92% 19.63% 44.06% 56.85%
Education 31  $                          1,561.97  $                                                 502.27 517.599 103.05% 11.15% 32.16% 68.12% 33.14% 71.00%
Electrical Equipment 103  $                        11,107.83  $                                               2,407.13 5374.15 223.26% 5.66% 21.67% 58.66% 48.38% 128.11%
Electronics (Consumer & Office) 13  $                              42.32  $                                                   29.39 38.469 130.90% 7.31% 69.44% NA 90.90% NA
Electronics (General) 129  $                        11,846.63  $                                               2,678.91 3704.715 138.29% 8.17% 22.61% 28.35% 31.27% 40.54%
Engineering/Construction 43  $                          5,791.37  $                                               1,622.53 1202.125 74.09% 14.27% 28.02% 37.32% 20.76% 30.54%
Entertainment 98  $                        14,077.65  $                                               2,815.13 4313.331 153.22% 3.25% 20.00% 55.38% 30.64% 291.97%
Environmental & Waste Services 57  $                          8,195.10  $                                               1,969.24 1464.571 74.37% 5.42% 24.03% 26.04% 17.87% 19.10%
Farming/Agriculture 42  $                        24,486.80  $                                               5,119.26 5710.533 111.55% 6.68% 20.91% 21.52% 23.32% 24.00%
Financial Svcs. (Non-bank & Insurance) 172  $                       140,505.61  $                                             27,407.08 29731.461 108.48% 11.07% 19.51% 22.94% 21.16% 25.65%
Food Processing 82  $                        24,533.88  $                                               5,293.46 5976.429 112.90% 8.29% 21.58% 22.99% 24.36% 26.33%
Food Wholesalers 14  $                          3,793.68  $                                                 925.73 900.473 97.27% 15.90% 24.40% 24.14% 23.74% 24.56%
Furn/Home Furnishings 31  $                          2,092.11  $                                                 721.60 989.795 137.17% 13.94% 34.49% NA 47.31% NA
Green & Renewable Energy 17  $                          2,251.30  $                                                 158.88 234.269 147.45% 4.39% 7.06% 9.77% 10.41% 15.38%
Healthcare Products 230  $                        26,657.21  $                                               5,486.10 7358.37 134.13% 4.81% 20.58% 24.73% 27.60% 35.30%
Healthcare Support Services 119  $                        76,367.84  $                                             17,205.21 18119.77 105.32% 8.08% 22.53% 25.20% 23.73% 26.84%
Heathcare Information and Technology 128  $                        21,838.42  $                                               2,553.35 6092.359 238.60% 3.11% 11.69% 21.29% 27.90% 57.57%
Homebuilding 32  $                        27,603.70  $                                               6,470.79 4959.33 76.64% 17.22% 23.44% 23.48% 17.97% 17.99%
Hospitals/Healthcare Facilities 32  $                        12,803.41  $                                               2,598.52 2117.581 81.49% 6.86% 20.30% 22.42% 16.54% 18.58%
Hotel/Gaming 68  $                        24,373.19  $                                               4,695.50 5538.636 117.96% 8.63% 19.27% 6.42% 22.72% 27.38%
Household Products 93  $                        30,556.28  $                                               6,762.72 8047.741 119.00% 8.21% 22.13% 23.53% 26.34% 27.75%
Information Services 18  $                          3,072.50  $                                                 791.97 1027.655 129.76% 15.79% 25.78% 37.04% 33.45% 51.34%
Insurance (General) 21  $                        13,942.91  $                                               2,882.28 2440.604 84.68% 13.69% 20.67% 22.10% 17.50% 18.86%
Insurance (Life) 23  $                        12,462.14  $                                               2,210.15 5211.98 235.82% 10.18% 17.73% 1.76% 41.82% 208.70%
Insurance (Prop/Cas.) 50  $                        24,565.47  $                                               4,653.74 4145.821 89.09% 12.42% 18.94% 19.43% 16.88% 20.99%
Investments & Asset Management 334  $                        40,133.28  $                                               7,616.61 7869.763 103.32% 11.33% 18.98% 20.14% 19.61% 20.78%
Machinery 103  $                        24,239.70  $                                               5,264.09 6473.175 122.97% 11.73% 21.72% 22.17% 26.70% 29.04%
Metals & Mining 68  $                        10,673.23  $                                               3,766.20 6022.127 159.90% 2.00% 35.29% 41.94% 56.42% 64.59%
Office Equipment & Services 17  $                            584.33  $                                                 258.99 222.773 86.02% 17.12% 44.32% 60.47% 38.12% 57.45%
Oil/Gas (Integrated) 4  $                       104,376.40  $                                             30,804.00 28499 92.52% 21.18% 29.51% 29.47% 27.30% 27.30%
Oil/Gas (Production and Exploration) 166  $                        92,872.49  $                                             18,892.55 6484.001 34.32% 5.61% 20.34% 17.87% 6.98% 7.02%
Oil/Gas Distribution 24  $                        35,069.62  $                                               6,398.26 393.479 6.15% 9.25% 18.24% 18.01% 1.12% 1.12%
Oilfield Svcs/Equip. 100  $                        65,955.51  $                                             14,403.36 12591.57 87.42% 10.88% 21.84% 22.47% 19.09% 19.73%
Packaging & Container 22  $                          8,972.20  $                                               2,152.57 2838.14 131.85% 18.12% 23.99% 29.84% 31.63% 40.95%
Paper/Forest Products 7  $                            696.50  $                                                 215.30 184.8 85.83% 12.91% 30.91% 38.12% 26.53% 31.04%
Power 50  $                        43,692.19  $                                               7,052.06 2484.594 35.23% 13.69% 16.14% 11.41% 5.69% 6.36%
Precious Metals 61  $                            789.93  $                                                 180.73 1410.249 780.33% 1.98% 22.88% NA 178.53% NA
Publishing & Newspapers 21  $                          1,019.34  $                                                 306.67 423.197 138.00% 10.01% 30.08% 34.64% 41.52% 52.33%
R.E.I.T. 193  $                        33,788.11  $                                               1,085.56 1398.081 128.79% 1.95% 3.21% 3.65% 4.14% 5.56%
Real Estate (Development) 17  $                            225.48  $                                                   54.70 82.3 150.46% 1.45% 24.26% NA 36.50% NA
Real Estate (General/Diversified) 11  $                            378.86  $                                                   65.92 46.721 70.87% 13.21% 17.40% 17.01% 12.33% 12.33%
Real Estate (Operations & Services) 60  $                          1,830.59  $                                                 330.15 1031.69 312.49% 4.29% 18.04% NA 56.36% NA
Recreation 55  $                          4,061.69  $                                               1,133.58 1127.028 99.42% 8.26% 27.91% 59.73% 27.75% 66.80%
Reinsurance 1  $                          1,490.00  $                                                 342.00 261 76.32% 22.95% 22.95% 22.95% 17.52% 17.52%
Restaurant/Dining 64  $                        23,772.78  $                                               4,746.91 5300.302 111.66% 11.41% 19.97% 21.32% 22.30% 23.82%
Retail (Automotive) 30  $                        14,764.13  $                                               3,506.70 3100.349 88.41% 13.50% 23.75% 27.04% 21.00% 24.40%
Retail (Building Supply) 16  $                        32,966.24  $                                               7,925.33 9054.593 114.25% 12.59% 24.04% 25.06% 27.47% 28.67%
Retail (Distributors) 62  $                        19,868.12  $                                               4,659.05 3912.126 83.97% 15.76% 23.45% 23.69% 19.69% 19.96%
Retail (General) 26  $                        71,146.50  $                                             15,453.90 16862.353 109.11% 14.58% 21.72% 22.08% 23.70% 24.09%
Retail (Grocery and Food) 14  $                          5,797.60  $                                               1,328.34 1238.282 93.22% 16.88% 22.91% 15.84% 21.36% 32.83%
Retail (REITs) 28  $                          6,721.03  $                                                 282.41 96.037 34.01% 2.53% 4.20% 4.61% 1.43% 1.56%
Retail (Special Lines) 105  $                        20,274.77  $                                               5,010.91 4467.189 89.15% 9.53% 24.71% 31.39% 22.03% 46.68%
Rubber& Tires 3  $                                 -    $                                                      -   174 #DIV/0! 0.00% #DIV/0! NA #DIV/0! NA
Semiconductor 63  $                        66,472.09  $                                               6,188.06 15232.006 246.15% 4.89% 9.31% 8.74% 22.91% 28.02%
Semiconductor Equip 30  $                        18,745.90  $                                               2,299.85 3149.331 136.94% 12.14% 12.27% 12.61% 16.80% 18.68%
Shipbuilding & Marine 8  $                            744.10  $                                                 140.27 0 0.00% 6.74% 18.85% 19.48% 0.00% NA
Shoe 13  $                          8,972.40  $                                               1,566.63 583.84 37.27% 11.31% 17.46% 17.49% 6.51% 6.91%
Software (Entertainment) 84  $                       116,797.95  $                                             19,351.23 23148.401 119.62% 5.11% 16.57% 17.23% 19.82% 20.59%
Software (Internet) 35  $                          1,939.77  $                                                 346.80 517.734 149.29% 2.61% 17.88% NA 26.69% NA
Software (System & Application) 351  $                       133,011.97  $                                             23,746.98 32158.102 135.42% 4.19% 17.85% 18.54% 24.18% 27.44%
Steel 29  $                        18,335.83  $                                               3,660.38 4413.271 120.57% 15.72% 19.96% 18.94% 24.07% 24.15%
Telecom (Wireless) 13  $                        10,530.40  $                                               2,596.00 136.024 5.24% 9.56% 24.65% 24.46% 1.29% 1.32%
Telecom. Equipment 66  $                        22,775.52  $                                               3,850.54 7522.986 195.37% 6.20% 16.91% 19.43% 33.03% 40.99%
Telecom. Services 42  $                        29,088.06  $                                               6,333.70 5173.299 81.68% 6.62% 21.77% 92.95% 17.78% 47.57%
Tobacco 16  $                        22,209.70  $                                               4,695.06 5541.19 118.02% 9.95% 21.14% 21.33% 24.95% 25.15%
Transportation 36  $                        23,432.44  $                                               4,965.06 5324.906 107.25% 6.53% 21.19% 21.64% 22.72% 24.00%
Transportation (Railroads) 4  $                        15,973.00  $                                               3,671.00 3602.379 98.13% 17.28% 22.98% 23.34% 22.55% 22.89%
Trucking 22  $                          7,120.30  $                                               1,820.30 1506.9 82.78% 20.21% 25.56% 27.27% 21.16% 22.56%
Utility (General) 14  $                        20,982.50  $                                               3,360.60 826.27 24.59% 14.05% 16.02% 15.91% 3.94% 3.94%
Utility (Water) 13  $                          1,997.32  $                                                 297.98 391.077 131.24% 11.09% 14.92% 12.84% 19.58% 19.89%
Total Market 6481  $                    2,608,944.70  $                                            501,748.46 572539.822 114.11% 8.35% 19.23% 21.21% 21.95% 25.35%
Total Market (without financials) 5214  $                    2,091,519.97  $                                            405,892.60 448383.954 110.47% 6.80% 19.41% 21.66% 21.44% 25.09%