Stamford-based Charter Communications Inc. leads the S&P 100 with the greatest negative tax rate, recording a significant -883.9 percent, according to new data analysis from WalletHub.
More than 10 S&P 100 companies carry a negative overall tax rate, which can be achieved either by retroactively claiming excess tax deductions or credits in a given year or not claiming tax benefits claimed one year until a later year.
Charter Communications’ negative tax rate outpaced the second lowest negative tax rate paid by Kraft Heinz. Co. was -98.7 percent. Other S&P 100 companies with negative tax rates included AT&T Inc., Berkshire Hathaway Inc., Pfizer Inc. and Comcast Corp.
At the other end of the spectrum, American International Group Inc. had the highest tax rate at 513.4 percent. WalletHub added that the average S&P 100 company paid a 77 percent higher tax rate than the top 1 percent of consumers.