Huge Tax Payment: What Berkshire Hathaway’s 2024 Tax Bill Means?

In his 2024 letter, Warren Buffett shared that Berkshire Hathaway paid a whopping $26.8 billion in taxes. This single payment makes up about 5% of all U.S. corporate taxes for the year. It shows just how big an impact one company can have on our public funds.

How Does This Compare Around the World?

Berkshire vs. National Taxes

• Ireland: In 2024, Ireland collected about $40 billion in corporate taxes. Berkshire Hathaway’s tax bill is more than 65% of that amount.
• India: While exact numbers for 2024 in India are still coming in, top companies like Reliance Industries and Tata Consultancy Services paid around $2.8 billion and $1.5 billion in recent years. That means Berkshire’s tax payment is nearly ten times larger than what India’s biggest company paid.

Berkshire vs. Other Big Companies

• Apple Inc.: Apple was told to pay $14.4 billion in back taxes over several years. Even then, Berkshire’s recent tax is much larger.
• Amazon & Google: Amazon paid about $2.6 billion in 2023 and Google about $4.2 billion. Together, these are still much lower than Berkshire’s single-year payment.

Simple Comparisons That Make You Think

• Imagine Berkshire as a Country: If Berkshire were a country, its tax payment would rank among the highest in the world.
• Picture This: If you stacked $100 bills worth $26.8 billion, the pile would almost wrap around the Earth three-quarters of the way!
• What It Means: This huge number makes us ask if our tax system should change to make sure all big companies pay their fair share.

Why This Matters

• Big Impact: One company’s tax can be as big as the total tax collected by a whole country.
• Fair Share: Seeing such differences makes us wonder if all companies should pay similar amounts.
• Policy Questions: Should we change our tax rules to be fairer for everyone?

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