More than 90% of Mid-sized Corps in Northeast US States Have Paid Modest State Corporate Income Tax

In an earlier post, I summarized the effective State and Local Corporate Income Tax Rates Paid by the 370 Most Profitable US Big Corps, which generated Core Pretax Income in excess of $5 bil each for the most recent 12 years. Core Pretax Income is exclusive of large Asset Impairment Charges, like ones resulting from the Ceiling Test for Oil and Gas companies, and from Goodwill Impairment for companies in all industries, and is also exclusive of large Acquired In-Process R&D Charges.

Now I am turning my attention to the effective tax rates for the Medium-sized Corps, which earn just below that of the most profitable, very Big top 370 firms. Thus, I will now be researching here Medium-sized Corps, which I am defining as publicly-held US Corps which generated at least $2 bil in Total Core Pretax Income in the most recent 6 years, and which are not already included in the top 370 most profitable, very Big Corps.

I earlier addressed these Medium-sized Corps in the US Big Three States….New York, California and Texas…..and also in the 8 Midwest US States.

This new research focuses on the 11 Northeast US States, other than New York. Here’s a brief summary of my earlier research results for the very Big Corps in these 11 Northeast US States.

...............................Most Recent Twelve Years................Current
.......................#....State&Local.......................Effective..Statutory
......................of......Corporate........Core......State&Local...State
......................Big......Income.........Pretax......Tax Rate......Tax
.....State........Corps...Tax Paid.......Income........Paid..........Rate
...................................(Millions of Dollars)

New Jersey.....18.......12,217........534,077.......2.29%......9.000%
Connecticut......9........4,958.........354,085.......1.40%......7.500%
Pennsylvania..17........4,159.........209,556.......1.98%......9.990%
Massachusetts..9........2,776..........93,135........2.98%......8.800%
Maryland..........6........2,751..........62,374........4.41%......8.250%
Delaware..........2...........373...........51,833.......0.72%......8.700%
Rhode Island....2.........1,835..........35,715........5.14%......9.000%
Washington DC..1...........188...........11,748........1.60%......9.975%
Maine................0
New Hampshire.0
Vermont...........0
Total NE...........64......29,257.....1,352,524.......2.16%


Below here is a State Summary of my new research for the Medium-sized Corps, with Core Pretax Income (PTI) above $2 bil for the most recent 6 years, in these 11 Northeast US States.

..................................Most Recent Six Years
.......................# of......State&Local......(PTI).........Effective
.....................Medium...Corporate........Core......State&Local
........................Size........Income.........Pretax.......Tax Rate
....State..........Corps......Tax Paid.......Income..........Paid
.......................................(Millions of Dollars)

Pennsylvania..10..............769...........25,444..........3.02%
New Jersey.......9..............636...........24,990..........2.55%
Connecticut......5...............136...........14,166..........0.96%
Massachusetts...3..............361.............9,548..........3.78%
Washington DC..2..............115.............5,126...........2.24%
Rhode Island.....1................19.............2,345...........0.81%
Delaware...........0
Maine................0
Maryland..........0
New Hampshire.0
Vermont...........0
Total NE...........30..........2,036...........81,619..........2.49%

And below here are the individual 30 Medium-sized Corps in each of these 11 Northeast US States:

.............................................Most Recent Six Years
............................................State&Local....(PTI).........Effective
............................................Corporate........Core......State&Local
..........State............................Income.........Pretax......Tax Rate
.......Corporations..................Tax Paid.......Income........Paid
................................................(Millions of Dollars)

Pennsylvania
Allegheny Technologies...............82.............3,283.........2.50%
CONSOL Energy..........................108.............3,232.........3.34%
Allegheny Energy.........................50.............2,748.........1.82%
American Eagle Outfitters...........133.............2,638.........5.04%
UGI.............................................112.............2,602.........4.30%
SEI Investments...........................36.............2,370.........1.52%
EQT...............................................19.............2,259.........0.84%
Mylan Labs...................................90.............2,213.........4.07%
Universal Health Services.............83.............2,079.........3.99%
Endo Pharmaceuticals..................56.............2,020.........2.77%
PA Total for all 10.....................769...........25,444.........3.02%

New Jersey
Wyndham Worldwide..................21.............3,442.........0.61%
Hudson City Bancorp................177.............3,374.........5.25%
Everest Re Group, Ltd**...............0.............3,154.........0.00%
Lucent(2004-2009)..................(28)............3,149.......(0.89)%
C R Bard......................................65.............3,016.........2.16%
Dun & Bradstreet.........................88.............2,382.........3.69%
Celgene......................................196.............2,214.........8.85%
Cognizant Technology Solutions..53*............2,151.........2.46%
Sealed Air....................................64.............2,108.........3.04%
NJ Total for all 9......................636...........24,990.........2.55%

Connecticut
WR Berkley.....................................0.............4,199........0.00%
Odyssey Re Holdings......................0.............3,099.........0.00%
Amphenol....................................44*............2,480.........1.77%
IMS Health...................................41*............2,334.........1.76%
Stanley Black & Decker..................51.............2,054.........2.48%
CT Total for all 5.......................136...........14,166.........0.96%

Massachusetts
Genzyme.....................................133.............3,843.........3.46%
Thermo Fisher Scientific...............87.............3,670.........2.37%
N Star..........................................141*...........2,035.........6.93%
MA Total for 3...........................361............9,548.........3.78%

Washington DC
Pepco Holdings..............................(3).............2,790........(0.11)%
Washington Post...........................118.............2,336.........5.05%
DC Total for 2.............................115.............5,126.........2.24%

Rhode Island
Hasbro...........................................19.............2,345.........0.81%

Total NE for all 30...................2,036............81,619........2.49%

* Includes both State Current Income Taxes and State Deferred Income Tax Expense
** Bermuda Corp, but with New Jersey mailing address and New York CPA firm

With so many Houston, Texas Oil and Gas related companies generating such incredibly robust profits as compared to companies in the Northeast US, it is pretty clear to me that nearly all businesses in the US Northeastern States have unfortunately been just devastated by sky-high energy costs.

More than 90% of Mid-sized Corps in Midwest US States Have Paid Modest State Corporate Income Tax

In an earlier post, I summarized the effective State and Local Corporate Income Tax Rates Paid by the 370 Most Profitable US Big Corps, which generated Core Pretax Income in excess of $5 bil each for the most recent 12 years. Core Pretax Income is exclusive of large Asset Impairment Charges, like ones resulting from the Ceiling Test for Oil and Gas companies, and from Goodwill Impairment for companies in all industries.

I am interested to see what happens with the effective tax rates for the Medium-sized Corps, which earn just below that of the most profitable, very Big top 370 firms. Thus, I will now be researching here Medium-sized Corps, which I am defining as publicly-held US Corps which generated at least $2 bil in Total Core Pretax Income in the most recent 6 years, and which are not already included in the top 370 most profitable, very Big Corps.

I earlier addressed these Medium-sized Corps in the US Big Three States….New York, California and Texas.

This new research focuses on the 8 Midwest US States. Here’s a brief summary of my earlier research results for the most profitable, very Big Corps in these 8 Midwest States.

...........................Most Recent Twelve Years................Current
...................#....State&Local.......................Effective..Statutory
..................of......Corporate........Core......State&Local....State
..................Big.......Income.........Pretax......Tax Rate......Tax
...State......Corps....Tax Paid.......Income........Paid..........Rate
...............................(Millions of Dollars)

Illinois.......24.......10,960.........491,682........2.23%.......7.30%
Ohio...........17.........7,321.........321,950.......2.27%..........*
Minnesota..14.........8,555.........309,056.......2.77%.......9.80%
Michigan......7.........1,752.........106,479.......1.65%.......6.04%
Missouri.......8.........3,303.........101,428.......3.26%.......6.25%
Indiana.........6.........1,280.........100,120.......1.28%.......8.50%
Wisconsin.....5.........1,560...........48,731.......3.20%.......7.90%
Iowa.............2............438...........16,522.......2.65%......12.00%
Total...........83........35,169......1,495,968.......2.35%

* Ohio doesn’t have a State Income Tax, although it does have a form of a Gross Receipts Tax.

Below here is a State Summary of my new research for the Medium-sized Corps, with Core Pretax Income (PTI) above $2 bil for the most recent 6 years in these 8 US Midwest States.

..................................Most Recent Six Years
.......................# of......State&Local......(PTI).........Effective
.....................Medium...Corporate........Core......State&Local
........................Size........Income.........Pretax.......Tax Rate
....State..........Corps......Tax Paid.......Income.........Paid
.......................................(Millions of Dollars)

Ohio..................8............504...........20,135..........2.50%
Illinois..............7............308...........17,488..........1.76%
Missouri............6..............82...........15,868..........0.52%
Wisconsin..........5............465...........12,605..........3.69%
Minnesota..........3............361.............9,272..........3.89%
Indiana...............2...........273.............5,970..........4.57%
Michigan.............1.............20.............2,149..........0.93%
Iowa...................0
Total.................32.........2,013..........83,487..........2.41%

And below here are the individual 32 Medium-sized Corps in each of these 8 US Midwest States:

.......................................Most Recent Six Years
......................................State&Local....(PTI).........Effective
......................................Corporate........Core......State&Local
.......State.........................Income.........Pretax......Tax Rate
....Corporations...............Tax Paid.......Income........Paid
..........................................(Millions of Dollars)

Ohio
American Financial Group.....15............3,386..........0.44%
Abercrombie & Fitch...........138............3,002..........4.60%
Cintas....................................98............2,758..........3.55%
Cliffs Natural Resources.........17............2,429..........0.70%
Scripps Ntwks Interactive......83............2,361..........3.52%
Lubrizol.................................16............2,156**.......0.74%
J M Smucker..........................38............2,044..........1.86%
E W Scripps............................99............1,999**.......4.95%
OH Total for all 8...............504..........20,135..........2.50%

Illinois
CNA Financial.........................0............3,174..........0.00%
CF Industries........................79............2,752..........2.87%
CNH Global NV***..................0****.....2,726..........0.10%
Telephone & Data Systems...110............2,676..........4.11%
United States Cellular............61............2,085**........2.93%
Hospira.................................30............2,040..........1.47%
Pactiv....................................28............2,035..........1.38%
IL Total for all 7................308..........17,488...........1.76%

Missouri
Peabody Energy.......................2............3,302..........0.06%
Energizer Holdings.................36............2,641..........1.36%
MEMC Electronic Materials......5............2,638..........0.19%
Reinsurance Group of America.0............2,523..........0.00%
Sigma Aldrich.........................39............2,452..........1.59%
Amdocs, Ltd*****....................0****.....2,312..........0.00%
MO Total for all 6.................82...........15,868.........0.52%

Wisconsin
Wisconsin Energy..................238*..........3,014..........7.90%
Oshkosh..................................54............2,609**......2.07%
Manpower..............................35............2,438...........1.44%
Joy Global...............................50............2,431..........2.06%
Alliant Energy.........................88............2,113..........4.16%
WI Total for all 5.................465..........12,605..........3.69%

Minnesota
CHS.......................................123*...........3,935..........3.13%
C H Robinson Worldwide.......129............2,678..........4.82%
Hormel Foods.......................109............2,659..........4.10%
MN Total for all 3................361............9,272..........3.89%

Indiana
Mead Johnson Nutrition.......101............3,155..........3.20%
Steel Dynamics.....................172*...........2,815..........6.11%
IN Total for 2.....................273............5,970..........4.57%

Michigan
Autoliv...................................20............2,149..........0.93%

Iowa None

Total Midwest for all 32...2,013.........83,487..........2.41%

* Includes both Current State Income Tax Expense and Deferred State Income Tax Expense
** Exclusive of large Asset Impairments
*** CNH Global is a Netherlands Corp, but with both an SEC Business and Mailing Address in Burr Ridge, IL
**** No mention of State Income Tax Paid, therefore it was assumed none were paid
***** Amdocs, Ltd is an Islands of Guernsey Corp, has SEC listed Principal Executive Offices in Chesterfield, MO, and a New York City external CPA firm

With so many Houston, Texas Oil and Gas related companies generating such incredibly robust profits as compared to companies in the Midwest, it is pretty clear to me that nearly all businesses in the US Midwestern States have unfortunately been just devastated by sky-high energy costs.

I think a very wise New Year's Resolution to strengthen the US economy and to bring down markedly US unemployment and US underemployment in 2011 is to legitimately do everything in a US citizen's power to stop Houston Big Oil's hold on the US government, on US citizens, and on US businesses. The country's economy will not run on all cylinders, nor will the unemployment picture turn around, particularly for newly-minted college graduates and for the long-term unemployed, until the enormous transfer of wealth from US citizens and from US businesses to Houston Big Oil's bottom-line coffers is reversed. It's pretty clear that the US government, particularly the US Congress as a whole, is flat-out afraid of Houston Big Oil's awesome power. Thus, the people must rise up and do what's right, when the US government doesn't have the courage to do it. That's the patriotic thing to do, in these times of unprecedented, prolonged, deep economic turmoil.

Nearly All Mid-sized Corps in Big Three US States (NY, CA and TX) Have Paid Modest State Corporate Income Tax

My earlier post summarized effective State and Local Corporate Income Tax Rates Paid by the 370 Most Profitable US Big Corps, which generated Core Pretax Income in excess of $5 bil for the most recent 12 years. My definition of Core Pretax Income excludes large Asset Impairment Charges, like ones resulting from the Ceiling Test for Oil and Gas companies, and from Goodwill Impairment for companies in all industries. It also excludes Acquired In Process R&D Charges.

When I stratify this research, it is pretty clear that the largest, most profitable Corps have the lowest effective Corporate State Income Tax Rates Paid.

The top 20%, or the top 74 Big Corps with the highest Pretax Income, represented a much more substantial 63% of the Total Core Pretax Income for all 370 Big Corps.

In the past decade, the very Big US Corps have gotten so much bigger, relative to the rest of the Big Corps. This trend is especially prevalent in the Big Oil sector, but it is also the case, to a somewhat lesser degree, with the very Big Corps in many other sectors.

Here’s a stratification of the weighted average effective Corporate State and Local Income Tax Rate Paid by these 370 very profitable Big Corps:

.....Top 20% of Big Corps………....2.11%
.....Second 20% of Big Corps…….2.50%
.....Middle 20% of Big Corps……..2.94%
.....Fourth 20% of Big Corps……..2.95%
.....Bottom 20% of Big Corps…….2.62%

The above trend makes sense to me, except for the Bottom 20% effective tax rate dropping by a bit. The very Big Corps have a very extensive list of exceptionally qualified, creative state tax strategists, both inside and outside their firms. Also, the very Big Corps have a higher portion of their earnings generated overseas.

I am interested to see what happens with the effective tax rates for the Medium-sized Corps, which earn just below that of the top most profitable 370 firms above. Thus, I will now be researching here Medium-sized Corps, which I am defining as publicly-held US Corps which generated at least $2 bil in Total Core Pretax Income in the most recent 6 years, and which are not already included in the top 370 most profitable very Big Corps.

I will start this new research by focusing on the Big Three US States…..New York, Texas, and California. Here’s a brief summary of my earlier research results for the very Big Corps in these three states, and for all US States.

......................................Most Recent Twelve Years
..............................#....State&Local.......................Effective
.............................of......Corporate........Core......State&Local
.............................Big.......Income.........Pretax......Tax Rate
.......State.............Corps....Tax Paid.......Income........Paid
...........................................(Millions of Dollars)

New York...............45.......42,291......1,583,149......2.67%
Texas.....................44........19,743.....1,377,291......1.43%
California...............41........31,961.....1,175,517......2.72%
Total of Big Three..130…….93,995……4,135,957……2.27%
Remainder of US...242……111,976……4,813,345……2.33%
All of US……….......370……205,971…..8,949,302…..2.30%

In comparison to the above effective tax rates paid, the current statutory Corporate State Income Tax Rates for NY is 7.10%, for California is 8.84%, and for the entire US is an average 7.39%. Texas does not have a state corporate income tax, although it does have a Gross Margins tax.

Now, here is a State Summary of my new research for Medium-sized Corps, with Core Pretax Income (PTI) above $2 bil for the most recent 6 years in these three Big US States. Since in my research, I found many Texas Mid-sized Corps with Core Pretax Income just under $2 bil, I also added them here.

.........................................Most Recent Six Years
..............................# of......State&Local......(PTI).........Effective
............................Medium...Corporate........Core......State&Local
...............................Size.......Income.........Pretax.......Tax Rate
.......State................Corps.....Tax Paid.......Income.........Paid
..............................................(Millions of Dollars)

..California.................15........1,217............45,285.........2.69%
..New York.................15........1,272...........48,637.........2.62%
..Texas
......PTI > $2 Bil..........19...........912............52,461.........1.74%
......PTI $1.5-$2 Bil.....17..........589............30,254.........1.95%

Total Big Three States..66…….3,990……....176,637……...2.26%

And below here are the individual 66 Medium-sized Corps in each of these three Big US States:

..........................................Most Recent Six Years
.........................................State&Local....(PTI).........Effective
.........................................Corporate........Core......State&Local
.......State............................Income.........Pretax......Tax Rate
....Corporations..................Tax Paid.......Income........Paid
.............................................(Millions of Dollars)

California with PTI > $2 bil for past 6 Years
DIRECTV................................200...........7,662.........2.61%
Western Digital...........................4...........4,027.........0.10%
DaVita.....................................161...........3,307.........4.87%
Agilent Technologies................83...........3,102.........2.68%
Reliance Steel & Aluminum.....122...........2,808.........4.34%
Ross Stores...............................92...........2,644.........3.48%
Juniper Networks.....................90...........2,644.........3.40%
Xilinx........................................24...........2,638.........0.91%
Jacobs Engineering.................109...........2,637.........4.13%
National Semiconductor...........43(1).......2,470.........1.74%
Lam Research...........................12...........2,428.........0.49%
Varian Medical Systems............72..........2,404.........3.00%
KLA Tencor..............................37...........2,333.........1.59%
Altera.......................................27...........2,112.........1.28%
Robert Half Intl.......................141...........2,069.........6.81%
CA Total for all 15 Corps.....1,217.........45,285.........2.69%


New York with PTI > $2 bil for past 6 Years
Corning...................................(13)..........8,423.........(0.15)%
AOL Inc(2006-2009)..............273..........4,542.........6.01%
Mastercard...............................93...........4,531.........2.05%
Arch Capital Group, Ltd(4).........5............3,445.........0.15%
Polo Ralph Lauren..................138...........3,365.........4.10%
CA............................................62...........3,324.........1.87%
Tiffany....................................130...........2,579.........5.04%
NYSE Euronext........................52...........2,504.........2.08%
Starwood Hotels & Resorts.....102...........2,477.........4.12%
Arrow Electronics....................49...........2,412.........2.03%
New York Community Bancorp.39..........2,375.........1.64%
Assurant(2004-2006)...............0(2).......2,288.........0.00%
Constellation Brands...............131...........2,267.........5.78%
National Fuel Gas.....................85...........2,085.........4.08%
NASDAQ OMX Group..............126...........2,020.........6.24%
NY Total for all 15 Corps....1,272........48,637.........2.62%

Texas with PTI > $2 bil for past 6 Years
Tesoro....................................203...........3,810.........5.33%
Plains Exploration&Production.65...........3,603.........1.80%
Temple Inland...........................60(3).......3,449.........1.74%
Affiliated Computer Services.....89...........3,442.........2.59%
El Paso........................................0...........3,197.........0.00%
Dr. Pepper Snapple Group........138...........3,154.........4.38%
Cameron International..............17...........3,067.........0.55%
Patterson UTI Energy................56...........2,937.........1.91%
Southwestern Energy..................0...........2,901.........0.00%
Rowan Companies.......................4...........2,777.........0.14%
HCC Insurance Holdings............24...........2,555.........0.94%
McDermott................................61...........2,517.........2.42%
Lyondell Chemical.....................13...........2,258.........0.58%
Pride International.....................0(2).......2,240.........0.00%
GameStop.................................52...........2,177..........2.39%
Ultra Petroleum..........................1...........2,172..........0.05%
Dean Foods...............................61...........2,116..........2.88%
Celanese...................................56(1).......2,046..........2.74%
FMC Technologies.....................12...........2,043..........0.59%
TX Total for all 19 Corps........912.........52,461..........1.74%

Texas with PTI from $1.5-$2.0 bil for past 6 Years
RadioShack...............................85...........1,971.........4.31%
Frontier Oil...............................77...........1,962.........3.92%
Helix Energy Solutions Group.....0(2).......1,948.........0.00%
Americredit..............................48(1).......1,921.........2.50%
BMC Software............................28...........1,905.........1.47%
Flowserve.................................14...........1,890.........0.74%
Denbury Resources...................20...........1,821.........1.10%
Cabot Oil&Gas...........................18...........1,765.........1.02%
EXCO Resources........................(1)..........1,761........(0.06)%
Whole Foods Market................176..........1,752.........10.05%
KBR.........................................(16)..........1,710........(0.94)%
Global SantaFe(2004-06)(5).......2...........1,702.........0.12%
Commercial Metals...................61...........1,701.........3.59%
Alliance Data Systems...............36...........1,687.........2.13%
Atmos Energy...........................44...........1,637.........2.69%
Grant Prideco.............................7(1).......1,583.........0.44%
Pioneer Natural Resources......(10)..........1,538.......(0.65)%
TX Total for 17 Corps...........589.........30,254.........1.95%

(1) Includes both Current State Income Tax Expense and Deferred State Income Tax Expense.
(2) No mention of any State Income Taxes, therefore I assumed none were paid.
(3) Also includes Foreign Income Tax Paid.
(4) Bermuda Corp, but with New York City CPA firm
(5) Was a Cayman Islands Corp, but with Houston SEC Business and Mailing Addresses. It had a Houston CPA firm. It was acquired by Transocean, Ltd.

The above list of 36 Texas Medium-sized Corps include 22 in the Oil and Gas Related Industries. The Houston metro area is home to 16 of these 22 companies. Clearly, Texas has prospered from the Big Oil industry, while the rest of the country has suffered in the 2000s Lost Decade.

It is pretty clear to me that Big Oil has just devastated the US economy in the past decade. While Big Oil earnings continued to go to the moon, and still do, other US businesses and all US individuals have been severely damaged economically by unnecessary sky-high energy costs.

To be fair, this all started when the Clinton Administration allowed Big Oil to merge. Big Oil continued to pick up steam during the years of the very friendly to Big Oil Bush/Cheney Presidency. When ExxonMobil, Chevron, and ConocoPhillips are this huge, they dominate and control much of US society, including the US government.

I think that unless the US Government effectively deals with the out-sized profits of Big Oil, there is going to be an unprecedented backlash from both financially desperate US citizens and US businesses. This isn't the way it should be....where Houston rocks while the rest of the country gets rolled!

More Than 95% of Most Profitable US Corps Have Paid Modest State and Local Income Taxes

From my quick SEC research, I found 374 US Publicly-held Companies with Core Pretax Income over $5 bil each for the most recent 12 years. These 374 Big Corps generated Total Core Pretax Income for the most recent 12 years of $9,013,703,000,000 (yeah, that's more than $9 trillion).

Of those 374 companies, four of them, which generated Core Pretax Income of $64.4 bil in the past 12 years, paid State Corporate Income Taxes, but they decided to not disclose sufficient information related to the amounts, and thus I wasn't able to derive a reasonable estimate of the amounts. These 4 Corps are shown at the very bottom of this report. That leaves 370 US Corps, which are all shown below.

These 370 US Corps generated $8,949,302,000,000 (yeah, that's more than $8.9 trillion) in Total Core Pretax Income over the most recent 12 years. The related weighted average effective Corporate State and Local Income Tax Rate Paid or Currently Payable was 2.30%.

These 370 US Corps are headquartered in 39 different US States. Of these 39 US States, four of them (Texas, Ohio, Washington, and Nevada) have no Corporate State Income Tax. The average statutory current State Tax Rate of the other 35 US States was 7.39%. Thus, the weighted average effective state and local corporate income tax rate paid of 2.30% was a huge 69% discount to the average current state tax rate of 7.39%.

Here's a US State Summary of the Effective State and Local Corporate Income Tax Rates Paid by the Most Profitable, Very Big US Corps, which are defined here as ones with Total Core Pretax Income from Continuing Operations of more than $5 bil each in the most recent 12 years. My definition of Core Pretax Income here excludes large Asset Impairment Charges, like those from Ceiling Tests for Oil and Gas companies, and those from Goodwill Impairment for companies in all industries. It also excludes large Acquired In Process Research and Development Charges.

.....................................Most Recent Twelve Years
.............................#....State&Local.......................Effective
............................of......Corporate........Core......State&Local
............................Big.......Income.........Pretax......Tax Rate
.......State............Corps....Tax Paid.......Income........Paid
..........................................(Millions of Dollars)

New York..............45........42,291......1,583,149......2.67%
Texas....................44........19,743......1,377,291......1.43%
California..............41.........31,961......1,175,517......2.72%
New Jersey...........18........12,217.........534,077......2.29%
Illinois..................24........10,960.........491,682......2.23%
North Carolina.......13........12,355.........395,255......3.13%
Connecticut.............9.........4,958.........354,085......1.40%
Washington.............9..........6,168.........324,385......1.90%
Georgia.................10..........8,543.........323,370......2.64%
Ohio......................17.........7,321..........321,950......2.27%
Minnesota.............14..........8,555.........309,056......2.77%
Pennsylvania.........17..........4,159.........209,556......1.98%
Arkansas.................4..........5,896.........208,554......2.83%
Nebraska................4...........2,209.........152,159......1.45%
Virginia..................9...........3,422.........132,009......2.59%
Michigan.................7..........1,752.........106,479......1.65%
Missouri..................8..........3,303.........101,428......3.26%
Indiana...................6..........1,280.........100,120......1.28%
Massachusetts.........9..........2,776..........93,135......2.98%
Florida....................7..........1,670..........81,018......2.06%
Maryland.................6..........2,751..........62,374......4.41%
Tennessee................5...........1,911..........61,981......3.08%
Oklahoma.................4.............387..........56,412......0.69%
Delaware..................2.............373..........51,833......0.72%
Wisconsin.................5..........1,560..........48,731......3.20%
Arizona....................4.............732..........43,768......1.67%
Rhode Island............2...........1,835..........35,715......5.14%
Kentucky..................5.............733..........34,562......2.12%
Oregon......................3.............831..........31,782......2.61%
Louisiana..................3.............413...........30,142......1.37%
Colorado...................4.............729..........29,940......2.43%
Alabama....................3............496...........21,876......2.27%
Iowa..........................2............438...........16,522......2.65%
Washington DC...........1............188...........11,749......1.60%
Nevada.......................2............221...........10,768.....2.05%
Idaho.........................1............356.............8,457......4.21%
Kansas........................1............352.............7,988......4.41%
Utah...........................1..............53.............5,345......0.99%
South Carolina............1..............73............5,082.......1.44%

Totals of 39 States...370.....205,971.....8,949,302......2.30%

And here is similar information for the individual 370 Most Profitable, Very Big Corps in each US State.

..........................................Most Recent Twelve Years
.........................................State&Local.....................Effective
.........................................Corporate........Core......State&Local
.......State............................Income.........Pretax......Tax Rate
....Corporations..................Tax Paid.......Income........Paid
.......................................(Millions of Dollars)

New York
Citigroup.............................4,081..........149,636.......2.73%
IBM.....................................1,510..........147,733.......1.02%
Altria Group........................4,371..........143,203.......3.05%
Verizon Communications....5,372..........133,814.......4.01%
Pfizer...................................1,920..........123,204.......1.56%
JP Morgan Chase.................4,289..........121,908.......3.52%
Goldman Sachs....................2,553...........90,605.......2.82%
Morgan Stanley...................2,652...........67,759.......3.91%
PepsiCo..................................868...........63,882.......1.36%
Bristol Myers Squibb..............392...........51,633.......0.76%
American Express..................990...........45,364.......2.18%
News Corp(2002-2009).........577...........31,894.......1.81%
Time Warner(1999-2009)....1,237...........28,134.......4.40%
MetLife...................................309...........28,117.......1.10%
Phillip Morris Intl(2007-09)..(15)...........28,064.....(0.05)%
Colgate-Palmolive...................286...........24,982.......1.14%
Hess......................................(123)..........22,786......(0.54)%
Bank of New York Mellon......1,183...........21,569.......5.48%
Loews......................................849...........21,180.......4.01%
CBS........................................1,299..........19,295.......6.73%
Viacom(2003-2009)................828...........15,544.......5.33%
Marsh & McLennan...................628...........13,961.......4.50%
Omnicom Group.......................248...........13,525.......1.83%
Consolidated Edison.................242...........13,344.......1.81%
McGraw-Hill.............................819...........12,712.......6.44%
Time Warner Cable(2003-09)..445...........10,558.......4.21%
Avon Products...........................66...........10,150.......0.65%
M&T Bank..................................175............8,962.......1.95%
Forest Labs...............................138.............8,691........1.59%
Cendant(1998-2005). ...............118.............8,110.......1.45%
Moodys(1999-2009).................741............7,821........9.47%
L-3 Communications..................241............7,400.......3.26%
Pepsi Bottling.............................203............7,055.......2.88%
ITT...............................................16............6,779.......0.24%
Estee Lauder..............................128............6,662.......1.92%
Coach........................................393............6,657.......5.90%
Dover...........................................92............6,493.......1.42%
Paychex.....................................178............6,476.......2.75%
Bunge, Ltd(2001-2009).................0............6,252.......0.00%
KeySpan(1998-2006).................246............5,636.......4.36%
XL Capital, Ltd..............................67............5,324.......1.26%
BlackRock(2004-2009)...............183............5,212.......3.51%
North Fork Banc(1998-2005)......122............5,104.......2.39%
Eastman Kodak...........................190............5,074.......3.74%
NY Total for all 45 Corps......42,291......1,583,149......2.67%

Texas
ExxonMobil..............................4,490.........486,408.......0.92%
Conoco Phillips.........................3,062.........163,228.......1.88%
AT&T.........................................4,521.........147,490.......3.07%
Marathon Oil................................858...........44,849.......1.91%
Dell..................................................0...........37,742.......0.00%
Schlumberger...............................231...........31,216.......0.74%
Apache..........................................23...........30,343.......0.08%
Valero Energy..............................359...........29,225.......1.23%
Anadarko Petroleum....................285...........28,132.......1.01%
Kimberly Clark.............................445...........26,029.......1.71%
Texas Instruments........................105...........24,561.......0.43%
Burlington Northern Santa Fe.......527...........24,552.......2.15%
Halliburton...................................168...........17,543.......0.96%
Spectra Energy..............................213...........17,481.......1.22%
Transocean.......................................0...........16,288.......0.00%
Sysco............................................795...........16,088.......4.94%
XTO Energy...................................240...........15,756.......1.52%
Alcon................................................0...........13,978.......0.00%
EOG Resources................................53...........13,721.......0.39%
Baker Hughes.................................129...........12,369.......1.04%
Waste Management........................533...........11,370.......4.69%
Comerica.......................................210...........10,638.......1.97%
Energy Future Holdings.................293...........10,488.......2.79%
Burlington Resources.....................122............9,728.......1.25%
National Oilwell Varco...................147............9,351.......1.57%
JC Penney......................................281............8,619.......3.26%
Electronic Data Systems.................213............8,537.......2.50%
Noble Corp........................................0............8,224.......0.00%
Southwest Airlines.........................126............7,833.......1.61%
SuperMedia...................................358............7,554.......4.74%
Torchmark........................................0............7,553.......0.00%
Clear Channel Communications......175............7,549.......2.32%
Diamond Offshore..............................1............7,519.......0.01%
Kinder Morgan...............................222............6,874.......3.23%
Smith International.........................49............6,554.......0.75%
Weatherford....................................46............6,331.......0.73%
Cooper Industries...........................77............6,224.......1.24%
Noble Energy..................................21............6,193.......0.34%
Ensco International..........................9............6,097.......0.15%
BJ Services......................................61............5,893.......1.04%
CenterPoint Energy.......................124............5,520.......2.25%
Nabors Industries, Ltd.....................54...........5,511.......0.98%
Newfield Exploration.........................8...........5,074.......0.16%
Fluor..............................................109...........5,058.......2.16%
TX Total for all 44 Corps.........19,743......1,377,291.......1.43%

California
Chevron....................................3,057..........211,552.......1.45%
Wells Fargo................................2,461..........108,550......2.27%
Intel.......................................... 1,981..........101,986.......1.94%
Cisco Systems............................2,582...........75,141.......3.44%
Hewlett-Packard...........................642...........66,446.......0.97%
Oracle.......................................2,303...........65,612.......3.51%
Occidental Petroleum...................731...........55,238.......1.32%
Apple........................................1,784...........51,465.......3.47%
Disney.......................................1,864...........47,950.......3.89%
Amgen.........................................728...........40,300.......1.81%
Google.......................................1,685...........27,244.......6.18%
Qualcomm....................................776...........25,105.......3.09%
Countrywide Financial..................515...........18,595.......2.77%
Genentech (1998-2008)................721..........17,372.......4.15% PG&E............................................960..........17,050.......5.63%
GAP..............................................701...........16,945.......4.14%
Safeway........................................676...........16,536.......4.09%
Applied Materials..........................164...........15,532.......1.06%
Franklin Resources.......................390...........14,140.......2.76%
Edison International.....................984...........14,112.......6.97%
Ebay............................................583...........12,760.......4.57%
Charles Schwab.............................719...........12,329.......5.83%
Gilead Sciences............................529...........12,268.......4.31%
Sempra Energy.............................484...........12,209.......3.96%
Golden West Financial..................596...........11,552.......5.16%
Visa.............................................531...........10,120.......5.25%
McKesson......................................83............9,448.......0.88%
SAIC(1998-2008)........................452............8,297.......5.45%
Clorox.........................................297............8,296.......3.58%
Yahoo..........................................554............7,130.......7.77%
Adobe Systems..............................82............6,741.......1.22%
Mattel............................................52............6,529.......0.80%
Unocal(1998-2004).......................46............6,502.......0.71%
Intuit...........................................266............5,996.......4.44%
Seagate Technology(2001-09).........6............5,937........0.10%
Symantec.....................................266............5,642.......4.71%
Linear Technology.......................104............5,562.......1.87%
Maxim Integrated Products..........114............5,442.......2.09%
Computer Sciences (1998-2006)....66............5,423.......1.22%
Allergan.......................................189............5,367.......3.52%
First American.............................237............5,096.......4.65%
CA Total for all 41 Corps.......31,961.......1,175,517......2.72%

New Jersey
JNJ...........................................2,980.......134,152.......2.22%
Merck.......................................2,703.......107,889.......2.51%
AT&T(1998-2004).......................710.........38,045.......1.87%
Wyeth(1998-2008)........................88.........34,285.......0.26%
Tyco International, Ltd................275........27,031.......1.02%
Honeywell....................................406........25,881.......1.57%
Prudential Financial......................351........24,585.......1.43%
Chubb...............................................0........20,513......0.00%
Schering-Plough(1998-2008)........258........19,749.......1.31%
Automatic Data Processing...........527........18,616.......2.83%
Public Service Enterprise Group.1,286........17,591.......7.31%
Campbell Soup.............................232.........12,192.......1.90%
Medco Health Solutions................912........10,815.......8.43%
Becton Dickinson..........................145........10,413.......1.39%
Ingersoll-Rand, plc.......................196.........9,898.......1.98%
Quest Diagnostics.........................531.........7,872.......6.75%
Bed Bath & Beyond.......................330.........7,349.......4.49%
NRG Energy.................................287.........7,201.......3.99%
NJ Total for all 18 Corps........12,217.....534,077.......2.29%

Illinois
Abbott Labs.................................619........52,542.......1.18%
Kraft Foods...............................1,488........47,469.......3.13%
McDonalds................................1,029........44,647.......2.30%
Allstate............................................0........36,823.......0.00%
Exelon.......................................1,454........32,057.......4.54%
Caterpillar....................................315........30,412.......1.04%
Walgreens..................................1,150........27,781.......4.14%
Sears Holdings..............................474........23,910.......1.98%
Illinois Tool Works........................509........21,129.......2.41%
Accenture plc(2000-2009)...........345........20,724.......1.66%
Deere.............................................279........19,540.......1.43%
Baxter............................................161........18,596.......0.87%
Archers Daniel Midland.................309........17,567.......1.76%
Motorola........................................258........13,907.......1.86%
Sara Lee...........................................70........13,083.......0.54%
Northern Trust...............................131........10,176.......1.29%
Aon...............................................275........10,034.......2.74%
Discover Fincl Services(04-09)......305.........9,587.......3.18%
Tribune(1998-2007)......................349.........9,382.......3.72%
Fortune Brands...............................313.........9,097.......3.44%
William Wrigley(1998-2007)............75.........6,302.......1.19%
WW Grainger...................................342.........5,856.......5.84%
CME Group.....................................454.........5,815.......7.81%
RR Donnelley..................................256.........5,246.......4.88%
IL Total for all 24 Corps...........10,960......491,682.......2.23%

North Carolina
Bank of America..........................5,453......178,093.......3.06%
Wachovia....................................1,290........61,531.......2.10%
Lowe's.........................................1,560........33,927.......4.60%
Duke Energy...................................729........30,602.......2.38%
BB&T..............................................334........20,637.......1.62%
Nucor.............................................341........14,537.......2.35%
Reynolds American........................903........13,642.......6.62%
Progress Energy..............................641.........9,005.......7.12%
Lorillard(2004-2009)....................471.........7,870.......5.98%
VF Corp..........................................180.........7,685.......2.34%
Jefferson Pilot(1998-2005).................0.........6,190.......0.00%
Laboratory Corp of America...........358.........6,145........5.83%
Goodrich...........................................95.........5,391.......1.76%
NC Total for all 13 Corps...........12,355.....395,255......3.13%

Connecticut
GE..............................................3,156......235,906.......1.34%
United Technologies.....................487........48,572.......1.00%
Aetna...........................................462.........16,827.......2.75%
Praxair...........................................94.........11,952.......0.79%
Hartford Financial Services..............0.........12,528.......0.00%
Pitney Bowes................................411...........8,793.......4.67%
Xerox...........................................126...........7,590.......1.66%
UST..............................................214...........6,367.......3.36%
Interactive Brokers Group...............8...........5,550.......0.14%
CT Total for all 9 Corps...........4,958......354,085.......1.40%

Washington State
Microsoft.....................................2,094......192,455.......1.09%
Washington Mutual.......................1,531.......39,487.......3.88%
Boeing............................................449........34,831.......1.29%
Costco............................................782........17,413.......4.49%
Paccar............................................185.........12,596.......1.47%
Weyerhaeuser.................................309.........8,025.......3.85%
Starbucks........................................443.........7,197.......6.16%
Nordstrom......................................375.........6,790.......5.52%
Safeco.................................................0..........5,591.......0.00%
WA Total for all 9 Corps.............6,168......324,385.......1.90%

Georgia
Coca-Cola........................................938........77,377.......1.21%
Home Depot..................................3,268........69,621.......4.69%
United Parcel Service....................1,586........50,436.......3.14%
Bell South(1998-2005).....................960........41,341.......2.32%
Southern Company...........................913........24,959.......3.66%
SunTrust Banks.................................245........20,702.......1.18%
AFLAC.................................................0........18,817.......0.00%
Genuine Parts...................................433.........7,883.......5.49%
Coca Cola Enterprises.......................103.........7,057.......1.46%
Newell Rubbermaid............................97.........5,177.......1.87%
GA Total for all 10 Corps..............8,543.....323,370.......2.64%

Ohio
Procter & Gamble.........................1,765......120,702.......1.46%
National City Corp...........................497........24,178.......2.06%
Kroger.............................................641........18,518.......3.46%
Cardinal Health...............................488........17,663.......2.76%
American Electric Power................276........17,237.......1.60%
FirstEnergy..................................1,047........16,613.......6.30%
Fifth Third Bancorp.........................244........16,432.......1.48%
Keycorp.........................................335........12,650.......2.65%
Macy's............................................730........12,318........5.93%
Limited Brands................................564.......12,203.......4.62%
Progressive Corp................................0........11,934.......0.00%
Eaton...............................................82..........8,539.......0.96%
Parker Hannifin...............................161.........8,143........1.98%
Cincinnati Financial............................0.........6,984.......0.00%
Sherwin Williams............................275.........6,837.......4.02%
Duke Energy Ohio/Cinergy..............147.........5,997.......2.45%
Owens Illinois Group.........................69.........5,002.......1.38%
OH Total for all 17 Corps............7,321......321,950......2.27%

Minnesota
US Bancorp.................................2,283........52,473.......4.35%
3M.................................................563........47,265.......1.19%
UnitedHealth...............................1,014........41,242.......2.46%
Target..........................................1,927........36,809.......5.24%
Medtronic......................................409........31,607.......1.29%
Travelers..........................................99........26,156.......0.38%
General Mills..................................456........17,269.......2.64%
Best Buy.........................................659........16,209.......4.07%
Xcel Energy....................................280.........9,801.......2.86%
Mosaic............................................116.........7,408.......1.57%
St Jude Medical...............................134.........6,329.......2.12%
Supervalu.......................................300.........6,143.......4.88%
Ecolab.............................................227.........5,315.......4.27%
Ameriprise Financial.........................88.........5,030.......1.75%
MN Total for all 14 Corps............8,555.....309,056.......2.77%

Pennsylvania
Alcoa..............................................177........24,115.......0.73%
Comcast..........................................956........23,671.......4.04%
PNC Financial Services....................521........23,367.......2.23%
ACE, Ltd.............................................0........16,426.......0.00%
Cigna...............................................229........16,190.......1.41%
HJ Heinz..........................................149........12,707.......1.17%
Mellon Financial Corp......................323........10,810.......2.99%
PPG Industries.................................334........10,675.......3.13%
PPL..................................................222........10,496.......2.12%
Air Products & Chemicals.................129........10,164.......1.27%
Sunoco.............................................452..........8,819.......5.13%
Lincoln National..................................0..........8,742.......0.00%
Hershey............................................249.........7,503.......3.32%
AmerisourceBergen..........................248.........7,148.......3.47%
Tyco Electronics, Ltd..........................13.........6,834.......0.19%
Rohm & Haas.......................................60.........6,392.......0.94%
United States Steel...............................97.........5,497.......1.76%
PA Total for all 17 Corps................4,159.....209,556......1.98%

Arkansas
Walmart.......................................5,013.......179,424.......2.79%
Alltel...............................................619.........13,858.......4.47%
Murphy Oil........................................66.........10,198.......0.65%
Windstream.....................................198..........5,074.......3.90%
AR Total for all 4 Corps...............5,896......208,554.......2.83%

Nebraska
Berkshire Hathaway.........................1,339......111,960.......1.20%
Union Pacific......................................341........21,893.......1.56%
ConAgra Foods...................................286........12,143.......2.36%
TD Ameritrade Holdings.....................243.........6,163........3.94%
NE Total for all 4 Corps..................2,209......152,159.......1.45%

Virginia
Dominion Resources..........................951........24,825.......3.83%
Capital One Financial..........................317........21,532.......1.47%
Gannett..............................................628........17,924.......3.50%
Norfolk Southern................................438........15,116.......2.90%
AES.......................................................11........13,560.......0.08%
SLM....................................................231........12,993.......1.78%
Genworth Financial (2001-09)............(40).......10,220......(0.39)%
Altria Group (2008 and 2009)............462.........9,666.......4.78%
NVR....................................................424.........6,173.......6.87%
VA Total for all 9 Corps..................3,422.....132,009.......2.59%

Michigan
Ford................................................210.......30,242.......0.69%
Dow Chemical..................................422......28,200.......1.50%
Kellogg............................................338.......14,419.......2.34%
Masco..............................................366.......11,125.......3.29%
Stryker............................................265.........9,333.......2.84%
DTE Energy.......................................35.........7,089.......0.49%
Whirlpool........................................116.........6,071.......1.91%
MI Total for all 7 Corps..............1,752......106,479.......1.65%

Missouri
Emerson Electric...............................443.......27,558.......1.61%
Anheuser-Busch.............................1,288.......23,436.......5.50%
Monsanto..........................................142.......12,889.......1.10%
Ameren.............................................349........9,872.......3.54%
H&R Block.........................................406........8,169.......4.97%
May Dept Stores(1998-2004)............375........7,726.......4.85%
Express Scripts..................................133........6,553.......2.03%
DST Systems......................................167........5,225.......3.20%
MO Total for all 8 Corps...............3,303....101,428.......3.26%

Indiana
Eli Lilly.............................................(15)......45,671......(0.03)%
WellPoint.........................................649.......29,665.......2.19%
Zimmer Holdings..............................201........8,084.......2.49%
NiSource...........................................190........5,668.......3.35%
Cummins............................................68........5,566.......1.22%
Guidant(1998-2005).........................187........5,466.......3.42%
IN Total for all 6 Corps.................1,280....100,120.......1.28%

Massachusetts
State Street Corp..............................818.......17,793.......4.60%
EMC.................................................165.......13,575.......1.22%
TJX..................................................684.......13,211.......5.18%
Gillette(1998-2004).........................175.......12,298.......1.42%
Staples.............................................315.......10,643.......2.96%
Covidien, plc(2004-2009)...............228.........9,561.......2.38%
Analog Devices..................................28.........5,910.......0.47%
Boston Scientific..............................225.........5,141........4.38%
Biogen IDEC.....................................138.........5,003.......2.76%
MA Total for all 9 Corps.............2,776........93,135.......2.98%

Florida
Carnival Corporation...........................0.......20,192.......0.00%
FPL Group........................................281.......16,103.......1.75%
Publix Super Markets........................647......14,783.......4.38%
CSX...................................................255.......12,133.......2.10%
Fidelity National Financial................268........7,268.......3.69%
AutoNation.......................................219........5,382.......4.07%
Royal Caribbean Cruises........................0........5,157.......0.00%
FL Total for all 7 Corps.................1,670......81,018.......2.06%

Maryland
Lockheed Martin...........................1,062.......26,615.......3.99%
Constellation Energy........................579.......11,485.......5.04%
Marriott...........................................430........7,187.......5.98%
T Rowe Group...................................296........6,826.......4.34%
Coventry Health Care.......................237........5,175.......4.58%
Black & Decker..................................147........5,086.......2.90%
MD Total for all 6 Corps..............2,751......62,374.......4.41%

Tennessee
FedEx.............................................625.......19,958.......3.13%
HCA................................................857.......19,440.......4.41%
Autozone........................................264.........9,453.......2.79%
International Paper.........................165.........6,602.......2.50%
Unum Group.......................................0.........6,528.......0.00%
TN Total for all 5 Corps................1,911.......61,981.......3.08%

Oklahoma
Devon Energy..................................140.......28,426.......0.49%
Chesapeake Energy...........................69........14,629.......0.47%
Williams Companies.........................102.........8,156.......1.25%
Oneok................................................76.........5,201.......1.46%
OK Total for all 4 Corps..................387.......56,412.......0.69%

Delaware
Dupont............................................93.......33,513.......0.28%
MBNA(1998-2004)........................280.......18,320.......1.53%
DE Total for both Corps.................373.......51,833.......0.72%

Wisconsin
Kohl's..............................................497.......13,133.......3.78%
Johnson Controls............................354.......12,286.......2.88%
Harley-Davidson.............................364.......11,215.......3.25%
Fiserv..............................................311........6,237.......4.99%
Rockwell Automation.......................34.........5,860.......0.58%
WI Total for all 5 Corps..............1,560.......48,731.......3.20%


Arizona
Freeport McMoRan (2007-2009)...93........15,472.......0.60%
Southern Copper.............................13........13,971.......0.09%
Phelps Dodge (1998-2006)............108.........7,900.......1.37%
Apollo Group.................................518.........6,425.......8.06%
AZ Total for all 4 Corps................732.......43,768.......1.67%

Rhode Island
CVS Caremark...............................1,596.......27,592.......5.78%
Textron...........................................239.........8,123.......2.94%
RI Total for both Corps...............1,835.......35,715.......5.14%

Kentucky
Yum Brands...................................167.......11,993.......1.39%
Humana.........................................205........6,099.......3.36%
Brown Forman...............................185........5,741.......3.22%
Ashland...........................................88........5,528.......1.59%
Lexmark..........................................88........5,201.......1.69%
KY Total for all 5 Corps................733......34,562.......2.12%

Oregon
Nike...............................................532.......19,355.......2.75%
Precision Castparts.........................188........7,368.......2.55%
PacifiCorp........................................111........5,059.......2.19%
OR Total for all 3 Corps..................831......31,782.......2.61%

Louisiana
Entergy..........................................306.......16,352.......1.87%
Freeport-McMoran (1998-2006)........0........7,845.......0.00%
CenturyTel.....................................107.........5,945.......1.80%
LA Total for all 3 Corps................413........30,142.......1.37%

Colorado
Newmont Mining................................0........9,795.......0.00%
Western Union................................215........8,334........2.58%
First Data (2001-2008)...................333........6,582.......5.06%
Janus Capital Group.........................181........5,229.......3.46%
CO Total for all 4 Corps................729.......29,940.......2.43%

Alabama
Regions Financial............................194.......10,112.......1.92%
AmSouth Bancorp(1998-2005).........31........6,247.......0.50%
Caremark RX(1998-2006)...............271........5,517.......4.91%
AL Total for all 3 Corps................496.......21,876.......2.27%

Iowa
Principal Financial..........................390........9,622.......4.05%
Rockwell Collins................................48........6,900.......0.70%
IA Total for both Corps.................438.......16,522.......2.65%

Washington DC
Danaher..........................................188.......11,749.......1.60%

Nevada
International Game Technology......173........5,643.......3.07%
MGM Mirage.....................................48.........5,125.......0.94%
NV Total for both Corps................221.......10,768......2.05%

Idaho
Albertsons(1998-2005)...................356........8,457.......4.21%

Kansas
Embarq...........................................352........7,988.......4.41%

Utah
Questar............................................53........5,345.......0.99%

South Carolina
SCANA.............................................73........5,082.......1.44%

=============================================
Four Corps with Total Core Pretax Income > $5 bil for past 12 Years, with State Income Tax Paid, but with insufficient State Income Tax Amounts Disclosed in all 12 Years:

......................................................................Core Pretax Income
Big Corp...................State.............Industry..........Last 12 Years
...........................................................................(mils of dollars)

Northrop Grumman...CA...US Defense Contractor.....18,240
Raytheon...................MA...US Defense Contractor....16,547
General Dynamics......VA...US Defense Contractor.....24,207
Assurant.....................NY...Health Insurance..............5,407

Total.........................................................................64,401

Texas Big Corps Have Paid Modest Amounts of State and Local Corporate Income Taxes

In performing a quick review of SEC filings of large corps with an SEC State Location Code in Texas, I found 43 large Texas Corps with Total Consolidated Pretax Income of more than $5 bil each, for the most recent 12 years.

Included in those 43 Big Texas Corps were a handful of Big Corps, now legally in Switzerland, Ireland, Bermuda, and The Netherlands Antilles, and some previously in The Cayman Islands and Bermuda, all due in large part for income tax avoidance reasons, but with heavy operational control out of Houston.

Below here is the effective state and local corporate income tax rates paid, which are computed by dividing the current state and local income tax paid by the consolidated pretax income, both in total for the past twelve years for each of these 43 Big Texas Corps.

These 43 Big Texas Corps below had a weighted average state corporate effective income tax rate paid of only 1.45%. Texas has no state corporate income tax, but does have a gross margin tax.

I present these 43 Big Texas Corps below, sorted by Pretax Income. And then later, I will add some analysis to this post. Everything is Big in Texas. Thus, it is only right that this ends up being a Big Post.

......................................State....................Effective
....................................Income....................State
......................................Tax........Pretax.......Tax
......................................Paid.......Income......Rate
.....................................12 Yrs.....12 Yrs......12 Yrs......Industry
....................................(Millions of Dollars)
.1 ExxonMobil............... 4,490....486,408.....0.92%......Oil&Gas
.2 ConocoPhillips........... 3,062....163,228(4).1.88%......Oil&Gas
.3 AT&T..........................4,521(1).147,490.....3.07%
.4 Marathon Oil.................858.......44,849(5)..1.91%.....Oil&Gas
.5 Dell....................................0(2)..37,742....0.00%
.6 Schlumberger, Ltd..........231......31,216(6)..0.74%.....Oil&Gas
.7 Apache............................23......30,343(7)..0.08%.....Oil&Gas
.8 Valero Energy................359......29,225(8).1.23%.......Oil&Gas
.9 Anadarko Petroleum......285......28,132(9)..1.01%......Oil&Gas
10 Kimberly Clark..............445......26,029......1.71%
11 Texas Instruments........105.......24,561.....0.43%
12 Burlington No Santa Fe..527......24,552.....2.15%
13 Halliburton....................168......17,543.....0.96%.......Oil&Gas
14 Spectra Energy...............213......17,481(10).1.22%.....Oil&Gas
15 Transocean, Ltd.................0......16,288(11).0.00%....Oil&Gas
16 Sysco.............................795(1)..16,088.....4.94%
17 XTO Energy....................240(3).15,756.....1.52%......Oil&Gas
18 EOG Resources.................53......13,721.....0.39%......Oil&Gas
19 Baker Hughes..................129(3).12,369.....1.04%......Oil&Gas
20 Waste Management........533......11,370.....4.69%
21 Comerica........................210......10,638.....1.97%
22 Energy Future Holdings..293......10,488(12).2.79%
23 Burlington Resources(16).122......9,728.....1.25%......Oil&Gas
24 National Oilwell Varco....147.......9,351.....1.57%.......Oil&Gas
25 JC Penney.......................281.......8,619.....3.26%
26 Electronic Data Systs(17).213......8,537.....2.50%
27 Noble Corp.........................0.......8,224.....0.00%......Oil&Gas
28 Southwest Airlines...........126.......7,833.....1.61%
29 SuperMedia.....................358.......7,554.....4.74%
30 Torchmark..........................0.......7,553.....0.00%
31 Clear Channel Comm.........175......7,549(13).2.32%
32 Diamond Offshore.................1.......7,519.....0.01%......Oil&Gas
33 Kinder Morgan..................222......6,874(14).3.23%....Oil&Gas
34 Smith International.............49......6,554.....0.75%......Oil&Gas
35 Weatherford Intl, Ltd...........46(3)..6,331.....0.73%......Oil&Gas
36 Cooper Industries plc..........77......6,224.....1.24%
37 Noble Energy.......................21......6,193.....0.34%......Oil&Gas
38 Ensco International plc..........9.....6,097.....0.15%......Oil&Gas
39 BJ Services..........................61(3)..5,893.....1.04%......Oil&Gas
40 CenterPoint Energy(18).....124......5,520.....2.25%
41 Nabors Industries, Ltd.........54......5,511.....0.98%......Oil&Gas
42 Newfield Exploration.............8....5,074(15).0.16%.....Oil&Gas
43 Fluor.................................109......5,058.....2.16%

Total for all 43 Companies.19,743..1,363,313...1.45%

(1) Also includes Current Foreign Income Tax Paid or Payable. Thus, AT&T and Sysco would have lower State Income Tax Paid, as well as lower effective State Income Tax Rates Paid, than are shown above.
(2) Dell had no disclosure of State Income Taxes, therefore it was assumed that none were paid.
(3) Includes both Current State Income Tax Paid or Payable and Deferred Income Tax Expense. Thus, XTO Energy, Baker Hughes, Weatherford, and BJ Services would all have lower State Income Tax Paid, as well as even lower effective State Income Tax Rates Paid, than are shown above.
(4) Exclusive of Asset Impairment Charges totaling $39.1 bil in 2008 and 2007.
(5) Exclusive of Goodwill Impairment Charge of $1.4 bil in 2008.
(6) Exclusive of Intangible Impairment Charge of $2.8 bil in 2002.
(7) Exclusive of Asset Impairment Charges totaling $8.2 bil in 2009 and 2008.
(8) Exclusive of Goodwill Impairment Charge of $4.0 bil in 2008.
(9) Exclusive of Asset Impairment Charge of $2.5 bil in 2001.
(10)Exclusive of Asset Impairment Charge of $3.5 bil in 2003.
(11)Exclusive of Asset Impairment Charge of $2.9 bil in 2002.
(12)Exclusive of Goodwill Impairment Charge of $8.9 bil in 2008.
(13)Exclusive of Asset Impairment Charges totaling $9.7 bil in 2009 and 2008.
(14)Exclusive of Goodwill Impairment Charge of $4.0 bil in 2008.
(15)Exclusive of Asset Impairment Charges totaling $3.4 bil in 2009, 2008, 2001 and 1998.
(16) Just includes amounts for the eight years 1998 to 2005.
(17) Just includes amounts for the ten years 1998 to 2007.
(18) Just includes amounts for the ten years 2000 to 2009.

Below here isolates the 25 Texas Oil and Gas Big Corps, included in the above 43 Texas Big Corps.

......................................State....................Effective
....................................Income....................State
......................................Tax........Pretax.......Tax.........Texas
......................................Paid.......Income......Rate........Metro
.....................................12 Yrs.....12 Yrs......12 Yrs.......Area
....................................(Millions of Dollars)
.1 ExxonMobil............... 4,490....486,408.....0.92%........Dallas*
.2 ConocoPhillips........... 3,062....163,228.....1.88%......Houston
.3 Marathon Oil..................858......44,849.....1.91%.....Houston
.4 Schlumberger.................231......31,216.....0.74%.....Houston
.5 Apache............................23......30,343.....0.08%......Houston
.6 Valero Energy................359......29,225.....1.23%....San Antonio
.7 Anadarko Petroleum......285......28,132.....1.01%......Houston
.8 Halliburton....................168......17,543.....0.96%......Houston
.9 Spectra Energy...............213......17,481.....1.22%......Houston
10 Transocean.......................0......16,288.....0.00%.....Houston
11 XTO Energy....................240.....15,756.....1.52%.......Dallas
12 EOG Resources.................53.....13,721.....0.39%......Houston
13 Baker Hughes..................129.....12,369.....1.04%......Houston
14 Burlington Resources......122......9,728.....1.25%......Houston
15 National Oilwell Varco....147.......9,351.....1.57%......Houston
16 Noble Corp.........................0.......8,224.....0.00%.....Houston
17 Diamond Offshore...............1.......7,519.....0.01%......Houston
18 Kinder Morgan................222.......6,874.....3.23%......Houston
19 Smith International...........49.......6,554.....0.75%......Houston
20 Weatherford......................46.......6,331.....0.73%......Houston
21 Noble Energy.....................21.......6,193.....0.34%......Houston
22 Ensco International.............9.......6,097.....0.15%.......Dallas
23 BJ Services.........................61.......5,893.....1.04%......Houston
24 Nabors Industries, Ltd.......54........5,511.....0.98%......Houston
25 Newfield Exploration...........8.......5,074.....0.16%......Houston

Total for all 25 Companies.10,851...989,908....1.10%

* However, most ExxonMobil employees are located in Houston.

In the most recent year, these 25 Texas Big Oil and Gas Corps had an incredibly low effective state and local corporate income tax rate paid of 0.29%. It seems to me that this might be a very fertile area for many US States to add to their severely stressed financial coffers.

The above 25 Texas Big Oil and Gas Corps generated Pretax Profits for the most recent 12 years of $989,908,000,000, which represent a massive 73% of all 43 Texas Big Corps profits of $1,363,313,000,000 (yeah, that's more than $1.36 trillion). I have to ask.....so the country gives the Oil Industry all of these very lucrative tax incentives when these Oil and Gas companies make Pretax profits like the above?

And the above 25 Texas Big Oil and Gas Corps doesn't include foreign-owned giant Big Oil Corps BP and Dutch Shell, which have massive operations in Houston.

Let me give below some perspectives on just how outrageous these Texas profits, driven by Texas Big Oil and Gas Corps, are. These numbers are all for the most recent 12 years.

What this detailed information below clearly shows is an incredible swing in profits from US non-Big Oil and Gas Corps all throughout the country to Texas Big Oil and Gas Corps. Later, when I get some time, I'll show the numbers for just the most recent years, which show an even much more dramatic swing in profits from US non-Oil and Gas Corps to Texas Big Oil and Gas Corps.

This unfortunate gigantic swing in profits has just devastated the US economy in the past decade, and was a major cause of the high US unemployment and underemployment rates in the most recent three years. US Non-Oil and Gas Big Corps, and also many smaller businesses, needed to protect their profits by doing something to offset these growing nosebleed energy costs. They elected to drastically cut US employee costs, and also to offshore jobs and to expand operations overseas, in order to pare both employee costs and income taxes.

Here's a preliminary summary of the Big Corps, with Total Pretax Profits of greater than $5 bil each over the past 12 years, headquartered in the 8 large States in America's Midwest. A large portion of these profits are from Manufacturing Corps, which have been severely harmed by the windfall profits of Texas Big Oil and Gas Corps.

........................# of........Pretax
........................Big.........Income
........................Corps.....12 Years
...................................(mils of $s)
Illinois...............20........416,412
Ohio...................15........306,525
Minnesota..........13........299,713
Missouri...............7.........88,287
Michigan..............7.........86,783
Indiana................5..........84,748
Wisconsin............5..........47,514
Iowa....................2..........16,522

Total all 8 States..74....1,346,504

Yeah, Total Texas Big Corp Pretax Profits for the past 12 years of $1,363,313,000,000 exceed those of the Big Corps in these large 8 Midwest US States by $17 bil.

And here's a preliminary summary of the Big Corps, with Total Pretax Profits of greater than $5 bil each over the past 12 years, headquartered in the 17 states in America's vast Southeast and Heartland Areas. A good portion of these profits are from Manufacturing and Retailing Corps, which have both been severely harmed by the windfall profits of Texas Big Oil and Gas Corps.

.............................# of..........Pretax
..............................Big..........Income
.............................Corps.......12 Years
...........................................(mils of $s)
North Carolina.........11.........371,899
Georgia.....................9.........278,431
Arkansas...................3.........203,480
Nebraska...................4.........141,280
Florida......................7...........79,390
Tennessee.................5............61,981
Oklahoma*................4...........52,613
Kentucky...................5...........34,562
Louisiana..................2............22,297
Colorado...................2............16,044
Alabama...................2.............15,629
Kansas......................1..............7,988
South Carolina...........1..............5,082
Mississippi................0.....................0
North Dakota.............0.....................0
South Dakota.............0.....................0
West Virginia............0.....................0

Total all 17 States.....56......1,290,676

* All 4 Oklahoma Big Corps are Oil and Gas companies.

Yeah, Total Texas Big Corp Pretax Profits for the past 12 years of $1,363,313,000,000 exceed those earned by the Big Corps in these 17 Southeast and Heartland Area US States by $73 bil.

And then here's a preliminary summary of the Big Corps, with Total Pretax Profits of greater than $5 bil each over the past 12 years, headquartered in the 12 States in America's Extended Northeast area, excluding the State of New York, but including the DC Area. A huge portion of these profits are from Manufacturing Corps, which have been severely harmed economically by the windfall profits of Texas Big Oil and Gas Corps.

.............................# of..........Pretax
..............................Big..........Income
.............................Corps.......12 Years
...........................................(mils of $s)
New Jersey.............14..........427,371
Connecticut..............8..........333,836
Pennsylvania..........15..........183,826
Virginia...................11..........157,303
Massachusetts..........6............77,679
Maryland.................6.............62,374
Rhode Island............2.............35,715
Delaware..................1.............33,513
Washington DC.........1.............11,749
Maine.......................0.....................0
New Hampshire........0.....................0
Vermont...................0.....................0

Total all 12 States....64.......1,323,366

Yeah, Total Texas Big Corp Pretax Profits for the past 12 years of $1,363,313,000,000 exceed those earned by the Big Corps in these 12 Northeast Area US States by $40 bil.

Lastly, just think about how huge California is. And think of all the stellar huge technology companies there, with Pretax Profits for the past dozen years as follows: Intel $102 bil, Cisco Systems $72 bil, Oracle $66 bil, Hewlett Packard $66 bil,and Apple $51 bil. And then there's Wells Fargo with $109 bil of Pretax Profits, and Disney with $48 bil. And on top of that, there are California's two Big Oil Corps, Chevron, with profits of a massive $212 bil, and Occidental Petroleum with profits of another $55 bil. Yeah, these two California Big Oil Corps comprised a hefty 24% of the Total Profit for California's 36 Big Corps.

Whew, you have to be impressed with the long-term operating performance of all of these California Big Corps.

But guess what? Total Pretax Profits for the past 12 years of California's 36 Big Corps of $1,124,980,000,000 is a gigantic $238 bil short of the total Pretax Profits of Texas' 43 Big Corps.

Now, let's add the rest of the Western States' Big Corps to California's Big Corps. Here's the preliminary related information for all 50 Big Corps, in the 12 Western States, with Pretax Profits above $5 bil each for the past 12 years.

..........................# of.........Pretax
..........................Big..........Income
..........................Corps......12 Years
.......................................(mils of $s)
California.............36.......1,124,980
Washington...........7..........265,203
Arizona.................3............34,771
Oregon..................2............26,723
Nevada..................1..............5,643
Utah......................1..............5,345
Alaska...................0....................0
Hawaii...................0....................0
Idaho....................0....................0
Montana................0....................0
New Mexico...........0....................0
Wyoming...............0....................0

Total all 12 States..50.....1,462,665

Oklahoma has four Big Corps, all Big Oil and Gas Companies, with Pretax Income for the past 12 years in excess of $5 bil each. The Total Pretax Profits of these four Oklahoma Big Oil and Gas Corps totaled $52,613 mil for the past 12 years. When I combine Oklahoma with Texas, I get Total Pretax Income of $1,415,926,000,000 for the Big Corps in these two Big Oil and Gas States. This is just $47 bil short of the above Total Pretax Profit for the past 12 years for the entire vast, very prosperous, leading-edge Western US, 12 States in total.

Let me now focus on the Income Shift among US States in the past decade. Here's some information on the Total Pretax Income of the Big Corps in the country's largest three States, in the country as a whole, and in the US Big Oil and Gas Industry:

..........................................................Two Years...........Percentage
.................................# of...............Pretax Income.........Increase
..............................Big Corps....2008-09.......1998-99...(Decrease)

Texas...........................43........$339.6 bil.......$85.9 bil.....+295%
California*...................36........$293.8 bil.....$102.2 bil......+187%
New York.....................38........$178.6 bil.....$194.5 bil.........(8)%
All US but Big Oil...290....$1,229.8 bil....$808.9 bil......+52%

Texas Oil&Gas.........25......$265.0 bil.......$36.3 bil...+630%
All US Oil&Gas.........35......$373.3 bil.......$44.3 bil...+743%

* Exclusive of Big Oil Corps Chevron and Occidental Petroleum, California's remaining 34 Big Corps Total Pretax Income for 2008 and 2009 drops from $293.8 bil above to $216.2 bil and its decade percentage profit increase drops from 187% above down to 128%.

Yeah, those above numbers are correct.....the increase in profits in the past decade in the entire US Big Oil and Gas Industry of 743% is more than 14 times the increase in profits in the past decade of the rest of the very best US Big Corps of 52%....the only Big Corps included are ones which earned more than $5 bil in the past 12 years. Whoa!....US Big Oil and Gas ruled in the 2000s decade.....and still does.

Well, that US Big Oil 743% monstrous profit increase in the past decade certainly has moderated in 2010? Believe it or not, it hasn't. It's been full speed ahead for US Big Oil profits in 2010. Just check out the following Core Pretax Income increases for the largest of US Big Oil for the nine months ended September 30, 2010.

.......................................Core Pretax Income
..............................Nine Months Ended September 30
..................................2010...........2009....% Increase

ExxonMobil............$37.6 bil.....$24.6 bil........+53%
Chevron..................$23.3 bil.....$12.7 bil........+83%
ConocoPhillips........$15.5 bil.......$6.8 bil.......+126%
Oxy Petroleum..........$5.5 bil.......$3.1 bil........+78%
Apache.....................$3.9 bil.......$2.0 bil.........+95%
Marathon Oil.............$3.9 bil.......$2.5 bil.........+54%
Hess..........................$3.0 bil.......$0.8 bil.......+264%
Devon Energy............$2.9 bil.......$1.0 bil.......+185%

Total of all 8.............$95.6 bil.....$53.6 bil........+78%

I think that US Big Oil and Gas Corp CEOs should spend less time gloating over their very robust P&Ls and more time at their local Food Banks.

It is pretty clear to me that one of the main reasons that the US unemployment and US underemployment rates are so high, and that median wages are so low, is the severe widespread cost pressure placed on other US businesses by US Big Oil and Gas companies. And then the personal financial status, as well as the standard of living, of US citizens have also dramatically deteriorated due to US Big Oil and Gas company unnecessary cost pressure placed on US individuals. Also, Federal, State and Local Governmental entities have all been seriously harmed by the severe inappropriate cost pressure applied by US Big Oil and Gas companies.

What happened in the past 12 years was an unfortunate, massive transfer of wealth from US individuals, from US non-Oil and Gas businesses, and from all US government entities.....federal, state, and local.....to the bottom-line profits of US Big Oil and Gas, mostly headquartered in Texas. The resultant structural problems with the US economy will not be fixed until the out-sized profits of US Big Oil and Gas Corps are properly dealt with in wise, creative ways by the US Government. So far, it has totally failed, and US citizens and all non-Oil and Gas businesses have every right to be very disappointed.

Clearly, for US businesses to be much more competitive, what is needed here is a whole-scale, revolutionary effort to reduce energy costs for all US businesses. To accomplish this, I think there should be incredibly attractive tax incentives for US businesses to do just that. Businesses react to profits. If the US government adopts tax incentives for energy initiatives that will result in higher US business profits, watch how quickly and extensively US businesses will react to them.

There are so many ways to do this. Let me put out for discussion one very simple annual energy tax incentive here. Say a business has total revenues in Year 2 of $110 mil, which is up $10 mil, or 10%, from total revenues in Year 1 of $100 mil. Then say total energy costs, as defined by the US Dept of Energy, in Year 2 are $10.3 mil, which is up $.3 mil, or 3%, from total energy costs in Year 1 of $10 mil. This business would get an Energy Cost Reduction Tax Credit for Year 2 computed something like this:

Year 2 Energy Cost Reduction Tax Credit Computation:

..Revenue Percentage Increase in Year 2............................10.0%
..-Energy Cost Percentage Increase in Year 2........................3.0%
..Excess................................................................................7.0%
..-Minimum Energy Cost Reduction Threshold..Assume it's...5.0%
..= Energy Tax Credit Reduction Percentage in Year 2...........2.0%

..Year 1 Total Energy Costs.....................................$10,000,000
..Assumed Annual Energy Tax Credit Percentage...Say...........30%

..Year 2 Energy Cost Reduction Tax Credit Earned:
.....$10,000,000 X 2.0% X 30% = $60,000

And if you want to make it more of an incentive to reduce energy costs, you can simply increase the 30%, or you can reduce the 5% Threshold, or even do both.

To best tax incentivize businesses to really move the needle toward US energy independence and wise income shifting from Big Oil and Gas Corps to all other US businesses and to US individuals, with the resultant increase in US real GDP growth, lower US unemployment, and lower US underemployment, I would consider the following.....have the Energy Tax Credit Percentage Earned each year move upward as the spread of the Revenue percentage increase over the Energy Cost percentage increase widens, perhaps in a pattern something similar to this.

.......Excess of
..Revenue % Growth..........Resultant
.........Over...................Energy Tax Credit
Energy Cost % Growth.........% Earned

....Less than 1%.......................0%
....1% to 2%...........................10%
....2% to 3%...........................20%
....3% to 4%...........................30%
....4% to 5%...........................40%
....5% to 6%...........................50%
....6% to 7%...........................60%
....7% to 8%...........................70%
....8% to 9%...........................80%
....9% to 10%.........................90%
....More than 10%................100%

Now that's the kind of tax incentive that would make businesses all throughout the country intensely work the critical energy cost issue simultaneously!

In regards to the current Tax Deal debate, granted the very wasteful Corn Ethanol Subsidy has no business being in the new Tax Deal. And neither does the Section 199 Tax Deduction extension for Puerto Rico manufacturing, clearly the result of the all-powerful Big Pharma lobby (yeah, this is a clear federal income tax incentive that Big Pharma gets for shipping its jobs offshore to a tax haven...I'm not kidding...how crazy).

But the Corn Ethanol Subsidy and the Section 199 Big Pharma largesse are both a drop in the bucket as compared with all of the many, very lucrative US Big Oil and Gas Company Tax Subsidies. So US Big Oil and Gas Corps not only get these massive Pretax Profits, which devastate economically all other businesses and individuals, but they also get incredibly high US government tax incentives to do just that. And you want to know why the country has such a low opinion of the US Congress.

Shifting gears to the horrible financial condition so many of the US States are in, now that I have reviewed every US State, let me summarize the weighted average effective State and Local Corporate Income Tax Paid Rates of the 22 US States where its Big Corps, with Pretax Income of more than $5 bil each for the past 12 years, have Total Pretax Income of more than $50 bil each for the past 12 years. The State of Maryland clearly comes out the best, and the State of Indiana wins the Race to the Bottom.....having the lowest weighted average effective State and Local Corporate Income Tax Paid Rate.

For Past 12 Years:
...Big Corps with Pretax Income > $5 bil
...States with Big Corps Generating Total Pretax Income > $50 bil

..................................Effective
...............................State&Local
..................................Income
.................................Tax Rate
....................................Paid

22. Maryland............4.55%
21. Massachusetts........3.29%
20. North Carolina.......3.20%
19. Tennessee...............3.08%
18. Missouri.................3.07%
17. Arkansas................2.80%
16. Georgia..................2.78%
15. Minnesota..............2.75%
14. California...............2.75%
13. New York...............2.60%
12. Virginia..................2.56%
11. Ohio.......................2.32%
10. Illinois...................2.31%
.9. New Jersey.............2.27%
.8. Pennsylvania..........2.26%
.7. Michigan................2.15%
.6. Florida...................2.10%
.5. Washington............2.00%
.4. Connecticut........1.48%
.3. Texas....................1.45%
.2. Nebraska..............1.43%
.1. Indiana.................1.27%

Of the above 22 States, three of them don't have State Corporate Income Taxes: Texas, Washington, and Ohio. For the other 19 States, here is a ranking of the Percentage Discount (State Corporate Income Tax Loophole) each is getting from the State's Statutory Corporate Income Tax Rate. The State of Maryland again comes out best, and the State of Indiana again unveils its hidden Tax Haven Lure to Big Corps, clearly at the expense of both its many financially desperate citizens and its State Educational Institutions.

For Past 12 Years:
...Big Corps with Pretax Income > $5 bil
...States with Big Corps Generating Total Pretax Income > $50 bil

..............................Effective.......State..........State
...........................State&Local..Corporate.......Tax
...............................Income.....Income......Loophole
..............................Tax Rate........Tax........Percentage
................................Paid...........Rate.........Discount

19. Maryland........4.55%........8.25%......44.8%
18. Missouri.............3.07%........6.25%........50.9%
17. Tennessee..........3.08%........6.50%........52.6%
16. North Carolina...3.20%........6.90%........53.6%
15. Georgia..............2.78%........6.00%........53.7%
14. Arkansas............2.80%........6.50%........56.9%
13. Virginia..............2.56%........6.00%........57.3%
12. Florida...............2.10%........5.50%........61.8%
11. Massachusetts....3.29%........8.80%........62.6%
10. New York...........2.60%........7.10%........63.4%
.9. Michigan.............2.15%........6.00%........64.2%
.8. Illinois................2.31%.........7.30%.......68.4%
.7. California............2.75%........8.84%........68.9%
.6. Minnesota...........2.75%........9.80%........71.9%
.5. New Jersey..........2.27%........9.00%.......74.8%
.4. Pennsylvania.......2.26%........9.99%........77.4%
.3. Connecticut.........1.48%........7.50%........80.3%
.2. Nebraska.............1.43%........7.81%.........81.7%
.1. Indiana..............1.27%.......8.50%.......85.1%

Average of All 19......2.56%........7.50%.......65.9%

It should be pointed out that some Cities and Counties, such as New York City, have City and/or County Corporate Income Taxes, which results in their State Corporate Income Tax Loophole Discount Percentages being much higher than those shown above.

The country is finally focusing now on the huge US Federal Income Tax Loopholes that Big Corps have taken advantage of. However, from my extensive research, the State Corporate Income Tax Loophole Percentage Discounts are substantially higher than the US Federal Corporate Income Tax Loophole Percentage Discounts. It shouldn't be too difficult for US State Governments to figure out why that is the case.

To improve their very stressful State financial conditions, as one step, I think it makes sense for all US States to take actions to bring down these huge State Corporate Income Tax Loophole Discount Percentages for Big Corps...66% for these above 19 US States. And I also think many US States should be taking actions to make sure they are picking up their fair share of taxes on Texas Big Oil and Gas Corps massive amount of income.....and also from foreign-owned Big Oil and Gas giants like BP and Dutch Shell.....and frankly, from all foreign-owned Corps, playing particular attention to the way income is allocated.