Posted on 04/28/2006 8:05:30 AM PDT by Deut28
XOM had an income tax rate of 45% in the first Q of 2006 and paid total taxes of $26b (yes that is a billion) in the first quarter. Therefore, XOM paid close to 30% of revenues in various taxes in 1Q06.
The majority of XOM taxes go to other countries, but when you look at that total number, it is indeed staggering.
Additional fun. Everyone griped about Lee Raymond's salary as CEO, and later his retirement package. Put it into a percentage of the company's revenue, and it's a different story.
If my math is correct, a CEO making the same percentage of revenue as salary would earn a mere $14,000 at a company with revenues of $100,000,000.
Numbers can be so deceiving.
........XOM had an income tax rate of 45% in the first Q of 2006 and paid total taxes of $26b (yes that is a billion) in the first quarter........
And your point is????
Note in their 1Q 8K that 34% of their petro sales (in barrels) are in the US, and that 31% of their refinery thruput (in barrels) is in the US, yet of the company net income of $8.4Bil, the company allocates less than 13% to the US. How can that be???
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