Tax
Rates by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2025
Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/taxrate.xls
For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
can be obtained by clicking here
on
which companies are included in each industry
| 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 companies | Aggregate tax rate |
| Advertising | 54 | $ 3,984.48 | $ 1,166.40 | 1167.805 | 100.12% | 7.67% | 29.27% | 42.85% | 29.31% | 45.11% |
| Aerospace/Defense | 67 | $ 37,763.57 | $ 6,223.01 | 8225.889 | 132.19% | 11.02% | 16.48% | 22.86% | 21.78% | 30.92% |
| Air Transport | 24 | $ 10,650.65 | $ 2,355.03 | 73.6 | 3.13% | 10.15% | 22.11% | 30.21% | 0.69% | 1.00% |
| Apparel | 37 | $ 4,042.08 | $ 744.24 | 1666.243 | 223.89% | 8.08% | 18.41% | 23.54% | 41.22% | 54.41% |
| Auto & Truck | 34 | $ 24,653.42 | $ 1,552.69 | 4275.94 | 275.39% | 2.11% | 6.30% | NA | 17.34% | 28.87% |
| Auto Parts | 33 | $ 4,242.47 | $ 909.51 | 1341.637 | 147.51% | 12.77% | 21.44% | 23.65% | 31.62% | 44.50% |
| Bank (Money Center) | 15 | $ 147,304.09 | $ 27,304.60 | 25334 | 92.78% | 18.10% | 18.54% | 18.54% | 17.20% | 17.20% |
| Banks (Regional) | 591 | $ 49,443.70 | $ 10,421.50 | 9096.895 | 87.29% | 16.84% | 21.08% | 25.18% | 18.40% | 25.18% |
| Beverage (Alcoholic) | 18 | $ 3,568.78 | $ 770.50 | 859.519 | 111.55% | 8.28% | 21.59% | 21.79% | 24.08% | 24.31% |
| Beverage (Soft) | 29 | $ 30,972.30 | $ 6,105.70 | 6705.161 | 109.82% | 6.94% | 19.71% | 19.77% | 21.65% | 21.71% |
| Broadcasting | 22 | $ 4,446.41 | $ 1,191.41 | 970.885 | 81.49% | 10.74% | 26.79% | NA | 21.84% | NA |
| Brokerage & Investment Banking | 30 | $ 49,266.70 | $ 10,404.43 | 10009.951 | 96.21% | 14.42% | 21.12% | 21.23% | 20.32% | 20.49% |
| Building Materials | 39 | $ 14,623.50 | $ 3,468.86 | 4333.562 | 124.93% | 19.11% | 23.72% | 24.22% | 29.63% | 29.87% |
| Business & Consumer Services | 152 | $ 26,453.73 | $ 6,306.53 | 6901.959 | 109.44% | 12.48% | 23.84% | 26.31% | 26.09% | 28.76% |
| Cable TV | 9 | $ 27,529.00 | $ 6,770.80 | 9106.7 | 134.50% | 10.47% | 24.60% | 28.40% | 33.08% | 40.31% |
| Chemical (Basic) | 31 | $ 5,127.19 | $ 905.02 | 2058.293 | 227.43% | 7.97% | 17.65% | 21.51% | 40.14% | 48.16% |
| Chemical (Diversified) | 4 | $ 49.00 | $ - | 129.539 | #DIV/0! | 0.00% | 0.00% | 5.37% | 264.37% | 963.83% |
| Chemical (Specialty) | 60 | $ 22,047.75 | $ 4,529.78 | 6490.051 | 143.28% | 9.99% | 20.55% | 15.31% | 29.44% | 39.91% |
| Coal & Related Energy | 16 | $ 1,284.60 | $ 228.20 | 242.5 | 106.27% | 2.77% | 17.76% | 19.80% | 18.88% | 23.91% |
| Computer Services | 63 | $ 16,911.79 | $ 2,676.85 | 6152.414 | 229.84% | 10.78% | 15.83% | 16.37% | 36.38% | 37.79% |
| Computers/Peripherals | 35 | $ 137,691.79 | $ 31,494.94 | 29771.497 | 94.53% | 8.99% | 22.87% | 23.21% | 21.62% | 21.89% |
| Construction Supplies | 46 | $ 32,843.48 | $ 7,138.34 | 8015.376 | 112.29% | 13.55% | 21.73% | 22.59% | 24.40% | 25.77% |
| Diversified | 21 | $ 146,807.21 | $ 28,218.20 | 22663.784 | 80.32% | 5.01% | 19.22% | 19.55% | 15.44% | 15.76% |
| Drugs (Biotechnology) | 535 | $ 26,528.83 | $ 5,168.60 | 16943.771 | 327.82% | 1.05% | 19.48% | NA | 63.87% | NA |
| Drugs (Pharmaceutical) | 231 | $ 56,310.92 | $ 7,648.55 | 27600.811 | 360.86% | 2.58% | 13.58% | 18.86% | 49.02% | 68.89% |
| Education | 29 | $ 2,310.49 | $ 591.75 | 632.887 | 106.95% | 11.89% | 25.61% | 55.58% | 27.39% | 46.78% |
| Electrical Equipment | 101 | $ 11,523.32 | $ 2,326.39 | 3248.973 | 139.66% | 5.14% | 20.19% | 54.84% | 28.19% | 85.41% |
| Electronics (Consumer & Office) | 11 | $ - | $ - | 36.962 | #DIV/0! | 0.00% | #DIV/0! | NA | #DIV/0! | NA |
| Electronics (General) | 122 | $ 12,928.79 | $ 2,486.07 | 3833.571 | 154.20% | 6.59% | 19.23% | 21.10% | 29.65% | 34.51% |
| Engineering/Construction | 42 | $ 7,025.00 | $ 1,858.30 | 1476.487 | 79.45% | 14.71% | 26.45% | 28.18% | 21.02% | 23.35% |
| Entertainment | 96 | $ 20,245.91 | $ 3,812.81 | 7423.76 | 194.71% | 2.06% | 18.83% | NA | 36.67% | NA |
| Environmental & Waste Services | 50 | $ 8,856.98 | $ 1,996.28 | 1866.908 | 93.52% | 6.84% | 22.54% | 24.06% | 21.08% | 22.05% |
| Farming/Agriculture | 35 | $ 15,410.33 | $ 3,609.97 | 4803.686 | 133.07% | 8.89% | 23.43% | 24.18% | 31.17% | 32.22% |
| Financial Svcs. (Non-bank & Insurance | 166 | $ 160,242.85 | $ 29,836.21 | 36813.744 | 123.39% | 11.81% | 18.62% | 17.96% | 22.97% | 23.94% |
| Food Processing | 77 | $ 23,503.56 | $ 5,677.50 | 5733.054 | 100.98% | 10.12% | 24.16% | 24.76% | 24.39% | 25.12% |
| Food Wholesalers | 14 | $ 4,272.94 | $ 1,019.00 | 894.347 | 87.77% | 15.53% | 23.85% | 23.97% | 20.93% | 21.50% |
| Furn/Home Furnishings | 28 | $ 2,676.76 | $ 566.52 | 905.629 | 159.86% | 11.61% | 21.16% | 13.87% | 33.83% | 65.67% |
| Green & Renewable Energy | 18 | $ 159.50 | $ 9.13 | 150.308 | 1646.31% | 1.22% | 5.72% | NA | 94.24% | NA |
| Healthcare Products | 218 | $ 32,267.41 | $ 5,151.83 | 8440.379 | 163.83% | 4.10% | 15.97% | 19.94% | 26.16% | 34.77% |
| Healthcare Support Services | 113 | $ 58,873.33 | $ 13,591.42 | 16815.642 | 123.72% | 8.80% | 23.09% | 25.42% | 28.56% | 31.57% |
| Heathcare Information and Technology | 116 | $ 20,620.36 | $ 3,404.62 | 6570.103 | 192.98% | 3.82% | 16.51% | 30.33% | 31.86% | 66.13% |
| Homebuilding | 30 | $ 27,437.30 | $ 6,359.50 | 5172.177 | 81.33% | 17.73% | 23.18% | 23.20% | 18.85% | 18.87% |
| Hospitals/Healthcare Facilities | 33 | $ 17,972.20 | $ 3,996.10 | 3247.985 | 81.28% | 9.05% | 22.23% | 23.51% | 18.07% | 18.57% |
| Hotel/Gaming | 65 | $ 29,394.73 | $ 4,371.62 | 5827.592 | 133.30% | 10.65% | 14.87% | 14.80% | 19.83% | 22.45% |
| Household Products | 101 | $ 31,069.49 | $ 6,988.15 | 8999.288 | 128.78% | 8.00% | 22.49% | 23.94% | 28.97% | 29.97% |
| Information Services | 16 | $ 3,662.70 | $ 851.33 | 1272.69 | 149.49% | 15.37% | 23.24% | 26.08% | 34.75% | 38.36% |
| Insurance (General) | 22 | $ 12,722.83 | $ 2,157.13 | 3404.018 | 157.80% | 8.78% | 16.95% | 17.70% | 26.76% | 27.54% |
| Insurance (Life) | 19 | $ 20,574.50 | $ 4,376.57 | 5127.52 | 117.16% | 14.51% | 21.27% | 19.99% | 24.92% | 27.49% |
| Insurance (Prop/Cas.) | 53 | $ 47,995.11 | $ 9,751.43 | 7360.509 | 75.48% | 16.05% | 20.32% | 20.75% | 15.34% | 15.64% |
| Investments & Asset Management | 231 | $ 46,191.37 | $ 8,646.41 | 7727.278 | 89.37% | 6.19% | 18.72% | 19.22% | 16.73% | 17.38% |
| Machinery | 109 | $ 26,632.90 | $ 5,595.44 | 7461.449 | 133.35% | 11.22% | 21.01% | 22.55% | 28.02% | 29.84% |
| Metals & Mining | 64 | $ 12,787.20 | $ 4,634.49 | 3910.001 | 84.37% | 1.80% | 36.24% | 42.07% | 30.58% | 33.73% |
| Office Equipment & Services | 14 | $ 1,007.30 | $ 218.06 | 271.814 | 124.65% | 13.45% | 21.65% | 5.30% | 26.98% | 73.99% |
| Oil/Gas (Integrated) | 4 | $ 80,526.10 | $ 24,365.10 | 25123 | 103.11% | 25.23% | 30.26% | 30.26% | 31.20% | 31.20% |
| Oil/Gas (Production and Exploration) | 147 | $ 59,740.80 | $ 14,136.91 | 8920.33 | 63.10% | 7.10% | 23.66% | 22.50% | 14.93% | 15.47% |
| Oil/Gas Distribution | 24 | $ 22,353.08 | $ 4,408.87 | 192.282 | 4.36% | 12.48% | 19.72% | 19.19% | 0.86% | 0.88% |
| Oilfield Svcs/Equip. | 97 | $ 34,994.96 | $ 6,916.20 | 7848.713 | 113.48% | 9.08% | 19.76% | 19.17% | 22.43% | 24.14% |
| Packaging & Container | 22 | $ 6,821.17 | $ 1,459.73 | 2576.53 | 176.51% | 14.29% | 21.40% | 18.39% | 37.77% | 40.65% |
| Paper/Forest Products | 6 | $ 954.30 | $ 244.30 | 211.4 | 86.53% | 23.69% | 25.60% | 25.60% | 22.15% | 22.15% |
| Power | 48 | $ 48,213.66 | $ 6,392.23 | 2551.555 | 39.92% | 12.11% | 13.26% | 10.39% | 5.29% | 5.55% |
| Precious Metals | 60 | $ 1,553.26 | $ 666.40 | 1050.39 | 157.62% | 1.99% | 42.90% | NA | 67.62% | NA |
| Publishing & Newspapers | 19 | $ 1,420.40 | $ 456.40 | 500.396 | 109.64% | 9.76% | 32.13% | 41.04% | 35.23% | 45.05% |
| R.E.I.T. | 192 | $ 36,679.57 | $ 1,284.70 | 1239.129 | 96.45% | 1.80% | 3.50% | 3.71% | 3.38% | 4.59% |
| Real Estate (Development) | 15 | $ 374.90 | $ 68.49 | 57.46 | 83.89% | 2.49% | 18.27% | NA | 15.33% | NA |
| Real Estate (General/Diversified) | 11 | $ 281.07 | $ 40.14 | 57.987 | 144.47% | 5.45% | 14.28% | 13.23% | 20.63% | 25.89% |
| Real Estate (Operations & Services) | 60 | $ 2,295.96 | $ 432.08 | 1012.592 | 234.35% | 4.26% | 18.82% | NA | 44.10% | NA |
| Recreation | 50 | $ 3,186.41 | $ 700.69 | 898.162 | 128.18% | 7.33% | 21.99% | 66.78% | 28.19% | 120.87% |
| Reinsurance | 1 | $ 919.00 | $ 185.00 | 108 | 58.38% | 20.13% | 20.13% | 20.13% | 11.75% | 11.75% |
| Restaurant/Dining | 62 | $ 23,232.25 | $ 4,754.55 | 6423.077 | 135.09% | 8.84% | 20.47% | 20.85% | 27.65% | 28.37% |
| Retail (Automotive) | 29 | $ 12,701.10 | $ 2,867.70 | 2414.488 | 84.20% | 12.12% | 22.58% | 24.84% | 19.01% | 20.69% |
| Retail (Building Supply) | 13 | $ 30,101.12 | $ 7,169.32 | 7036.761 | 98.15% | 13.66% | 23.82% | 24.81% | 23.38% | 24.12% |
| Retail (Distributors) | 66 | $ 20,832.38 | $ 5,077.27 | 5027.605 | 99.02% | 13.50% | 24.37% | 23.80% | 24.13% | 24.40% |
| Retail (General) | 24 | $ 110,424.39 | $ 21,903.71 | 24247.53 | 110.70% | 16.75% | 19.84% | 19.71% | 21.96% | 22.34% |
| Retail (Grocery and Food) | 17 | $ 6,898.70 | $ 1,455.37 | 1532.101 | 105.27% | 13.28% | 21.10% | 21.23% | 22.21% | 22.33% |
| Retail (REITs) | 28 | $ 7,546.98 | $ 241.75 | 123.31 | 51.01% | 1.19% | 3.20% | 3.38% | 1.63% | 1.72% |
| Retail (Special Lines) | 98 | $ 22,695.91 | $ 5,303.19 | 7655.666 | 144.36% | 8.23% | 23.37% | 98.32% | 33.73% | 119.85% |
| Rubber& Tires | 3 | $ - | $ - | 200 | #DIV/0! | 0.00% | #DIV/0! | NA | #DIV/0! | NA |
| Semiconductor | 63 | $ 114,140.68 | $ 16,197.36 | 27697.588 | 171.00% | 4.19% | 14.19% | 23.22% | 24.27% | 27.45% |
| Semiconductor Equip | 30 | $ 18,698.77 | $ 2,353.43 | 3653.33 | 155.23% | 9.95% | 12.59% | 12.65% | 19.54% | 19.73% |
| Shipbuilding & Marine | 8 | $ 1,021.70 | $ 210.47 | 16.8 | 7.98% | 5.78% | 20.60% | 20.82% | 1.64% | 1.66% |
| Shoe | 12 | $ 9,037.30 | $ 1,514.96 | 686.52 | 45.32% | 11.06% | 16.76% | 16.13% | 7.60% | 7.85% |
| Software (Entertainment) | 81 | $ 177,828.81 | $ 26,768.88 | 32829.979 | 122.64% | 6.73% | 15.05% | 15.39% | 18.46% | 18.87% |
| Software (Internet) | 29 | $ 2,828.88 | $ 357.09 | 522.453 | 146.31% | 2.18% | 12.62% | NA | 18.47% | NA |
| Software (System & Application) | 333 | $ 164,787.86 | $ 28,627.13 | 36816.055 | 128.61% | 4.44% | 17.37% | 16.08% | 22.34% | 24.27% |
| Steel | 27 | $ 10,458.50 | $ 1,952.54 | 2416.09 | 123.74% | 11.76% | 18.67% | 18.39% | 23.10% | 25.27% |
| Telecom (Wireless) | 11 | $ 14,096.39 | $ 3,395.72 | 373.201 | 10.99% | 14.90% | 24.09% | 25.12% | 2.65% | 2.80% |
| Telecom. Equipment | 61 | $ 16,615.95 | $ 1,702.14 | 7595.36 | 446.22% | 4.35% | 10.24% | 14.86% | 45.71% | 56.04% |
| Telecom. Services | 32 | $ 29,136.86 | $ 8,246.22 | 4132.424 | 50.11% | 3.65% | 28.30% | 31.29% | 14.18% | 15.92% |
| Tobacco | 12 | $ 26,653.40 | $ 5,887.60 | 4924.006 | 83.63% | 12.50% | 22.09% | 22.16% | 18.47% | 18.53% |
| Transportation | 21 | $ 19,763.69 | $ 3,882.46 | 4649.192 | 119.75% | 11.90% | 19.64% | 21.39% | 23.52% | 30.82% |
| Transportation (Railroads) | 4 | $ 16,574.00 | $ 3,855.00 | 2624.459 | 68.08% | 17.14% | 23.26% | 23.62% | 15.83% | 16.07% |
| Trucking | 24 | $ 5,685.77 | $ 1,369.78 | 1260.45 | 92.02% | 18.60% | 24.09% | 27.14% | 22.17% | 25.07% |
| Utility (General) | 14 | $ 18,920.50 | $ 2,013.16 | 745.6 | 37.04% | 10.65% | 10.64% | 10.17% | 3.94% | 3.94% |
| Utility (Water) | 15 | $ 2,400.29 | $ 392.66 | 76.009 | 19.36% | 11.36% | 16.36% | 15.65% | 3.17% | 3.23% |
| Total Market | 6062 | $ 2,726,309.43 | $ 526,844.46 | 607594.523 | 115.33% | 8.03% | 19.32% | 21.14% | 22.29% | 25.21% |
| Total Market (without financials) | 4935 | $ 2,192,568.28 | $ 423,946.18 | 502720.608 | 118.58% | 6.75% | 19.34% | 21.61% | 22.93% | 26.43% |
Updated January 2025
By Aswath Damodaran