Tax Rates by Sector

Data Used: S&P Capital IQ, Bloomberg and the Fed

Date of Analysis: Data used is as of January 2014

Download as an excel file instead: http://www.stern.nyu.edu/~adamodar/pc/datasets/taxrate.xls

can be obtained by clicking here

on which companies are included in each industry


Industry name Number of firms Average across all companies Average across only money-making companies Aggregate effective tax rate
Advertising 65 6.04% 32.49% 34.41%
Aerospace/Defense 95 15.03% 31.14% 30.71%
Air Transport 25 13.79% 21.81% 9.90%
Apparel 70 10.29% 27.60% 32.22%
Auto & Truck 26 4.71% 28.35% NA
Auto Parts 75 9.43% 23.57% 13.64%
Bank 7 22.17% 30.38% 30.38%
Banks (Regional) 721 18.00% 28.77% 24.53%
Beverage  47 3.95% 23.22% 23.08%
Beverage (Alcoholic) 19 10.72% 17.75% 17.91%
Biotechnology 349 1.13% 17.44% 37.63%
Broadcasting 30 13.21% 12.91% 9.49%
Brokerage & Investment Banking 49 13.44% 29.84% 29.66%
Building Materials 37 16.33% 33.80% 37.57%
Business & Consumer Services 179 13.41% 35.72% 38.10%
Cable TV 16 15.00% 34.36% 35.04%
Chemical (Basic) 47 6.27% 28.23% 33.64%
Chemical (Diversified) 10 25.03% 28.06% 28.06%
Chemical (Specialty) 100 12.74% 25.52% 25.93%
Coal & Related Energy 45 2.44% 13.74% NA
Computer Services 129 9.94% 23.12% 23.31%
Computer Software 273 6.16% 19.69% 19.30%
Computers/Peripherals 66 5.66% 25.16% 25.57%
Construction 18 9.82% 28.31% 20.47%
Diversified 20 12.60% 17.47% 17.50%
Educational Services 40 11.84% 39.52% 78.95%
Electrical Equipment 135 7.49% 31.00% 34.98%
Electronics 191 7.52% 20.40% 24.40%
Electronics (Consumer & Office) 26 8.97% 9.81% 9.78%
Engineering 56 14.86% 30.70% 35.14%
Entertainment 85 4.85% 29.16% 28.94%
Environmental & Waste Services 108 5.02% 33.17% 36.83%
Farming/Agriculture 29 9.01% 42.54% 42.94%
Financial Svcs. 76 18.37% 32.54% 32.50%
Financial Svcs. (Non-bank & Insurance) 17 9.77% 25.02% 25.02%
Food Processing 97 14.00% 26.42% 27.53%
Food Wholesalers 18 10.69% 36.53% 36.61%
Furn/Home Furnishings 36 10.03% 16.51% 16.78%
Healthcare Equipment 193 5.80% 15.83% 17.22%
Healthcare Facilities 47 13.49% 29.91% 31.40%
Healthcare Products 58 8.76% 14.49% 14.92%
Healthcare Services 126 13.77% 34.81% 35.16%
Heathcare Information and Technology 125 6.09% 17.09% 18.15%
Heavy Construction 46 19.40% 30.41% 31.15%
Homebuilding 32 6.68% 19.47% NA
Hotel/Gaming 89 10.48% 19.34% 9.91%
Household Products 139 9.51% 28.16% 28.56%
Information Services 71 17.05% 30.86% 31.69%
Insurance (General) 26 19.19% 16.84% 14.00%
Insurance (Life) 27 17.82% 24.04% 16.16%
Insurance (Prop/Cas.) 53 19.42% 22.72% 22.74%
Internet software and services 330 4.59% 20.98% 23.25%
Investment Co. 65 6.62% 20.23% 20.24%
Machinery 141 13.02% 27.63% 26.47%
Metals & Mining 134 1.90% 30.24% 36.36%
Office Equipment & Services 30 12.81% 34.25% 33.45%
Oil/Gas (Integrated) 8 20.55% 40.54% 40.55%
Oil/Gas (Production and Exploration) 411 6.29% 43.84% 51.34%
Oil/Gas Distribution 80 4.18% 9.35% 9.68%
Oilfield Svcs/Equip. 163 10.73% 28.42% 29.24%
Packaging & Container 24 21.28% 26.45% 24.43%
Paper/Forest Products 21 8.20% 16.14% 14.82%
Pharma & Drugs 138 4.30% 22.02% 22.65%
Power 106 16.03% 28.88% 28.71%
Precious Metals 166 0.82% 44.81% NA
Publshing & Newspapers 52 13.92% 31.30% 7.97%
R.E.I.T. 46 2.48% 1.99% 2.26%
Railroad 10 20.51% 36.32% 36.34%
Real Estate (Development) 22 3.00% 19.36% NA
Real Estate (General/Diversified) 11 8.72% 26.55% 34.20%
Real Estate (Operations & Services) 47 8.56% 31.76% 42.83%
Recreation 70 8.81% 22.83% 22.76%
Reinsurance 3 13.34% 23.92% 24.31%
Restaurant 84 15.17% 31.40% 29.72%
Retail (Automotive) 30 19.23% 36.82% 37.45%
Retail (Building Supply) 7 21.97% 36.74% 37.23%
Retail (Distributors) 87 16.18% 34.68% 40.21%
Retail (General) 21 25.03% 32.78% 35.10%
Retail (Grocery and Food) 21 22.83% 34.65% 36.55%
Retail (Internet) 47 9.80% 18.24% 17.81%
Retail (Special Lines) 137 18.90% 36.82% 37.93%
Rubber& Tires 4 15.21% 30.30% 30.31%
Semiconductor 104 7.30% 18.37% 20.48%
Semiconductor Equip 51 5.13% 19.58% NA
Shipbuilding & Marine 14 4.99% 35.49% 97.95%
Shoe 14 19.82% 25.00% 25.01%
Steel 37 14.13% 28.79% NA
Telecom (Wireless) 28 11.54% 50.73% NA
Telecom. Equipment 131 6.90% 15.15% 14.66%
Telecom. Services 82 8.40% 12.73% 12.69%
Thrift 223 18.93% 2.54% NA
Tobacco 12 14.23% 32.16% 32.31%
Transportation 22 21.21% 33.45% 33.55%
Trucking 28 27.93% 39.62% 40.80%
Utility (General) 20 29.93% 33.10% 32.04%
Utility (Water) 20 14.52% 30.34% 31.69%
Total Market 7766 10.32% 26.66% 20.47%

 



Updated January 2014
By Aswath Damodaran