sales-based taxes, $34.5 billion;
Um..... is this not tax that the consumer pays attached to the price per gallon of gas? If so that is deliberately deceptive.
Yes.
If so that is deliberately deceptive.
Why? It is part of the price at the pump that everyone compares and talks about.
You are right and it is an excellent point. It is like including all the state sales tax collections in the taxes Walmart “paid”.
Um.... ALL taxes that a corporation pays are ultimately paid by consumers in the form of higher prices per unit of good the corporation sells. Of course, Exxon has more business than just retail gasoline sales. So it pays sales taxes on assets that it acquires and consumable goods that it uses. It pays property taxes on its real assets. The bottom line is that all of the taxes that the corporation pays (even though some or all of those taxes are ultimately paid by the consumers) must be accounted for in its financial statements, and Exxon Corporation paid a total of 116.2 billion in taxes. If the 45.2 billion in profit was a record (which it was), I guess the 116.2 Billion in taxes was probably a record too.
Not if they have to collect the tax at the pump, then pay the various confiscators. Employers pay 1/2 of employee FICA and therefore it's a liability (balance sheet) and expense (income statement).