CIT Group (CIT Group) Tax Rate % : 24.03% (As of Sep. 2021)

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What is CIT Group Tax Rate %?

Tax Rate % is calculated as Tax Expense divided by its Pre-Tax Income. CIT Group's Tax Expense for the three months ended in Sep. 2021 was $56 Mil. CIT Group's Pre-Tax Income for the three months ended in Sep. 2021 was $231 Mil. Therefore, CIT Group's Tax Rate % for the quarter that ended in Sep. 2021 was 24.03%.

CIT Group Tax Rate % Historical Data

The historical data trend for CIT Group's Tax Rate % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CIT Group Tax Rate % Chart

CIT Group Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Tax Rate %

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973.68

-35.39

25.89

15.15

12.52

CIT Group Quarterly Data
	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21
Tax Rate %	Get a 7-Day Free Trial															25.61	76.44	24.07	24.01	24.03

CIT Group Tax Rate % Calculation

Tax Rate % is the ratio of tax expense divided by pretax income, usually presented in percent.

CIT Group's Tax Rate % for the fiscal year that ended in Dec. 2020 is calculated as

Tax Rate %	=	Tax Expense (A: Dec. 2020 )	/	Pre-Tax Income (A: Dec. 2020 )
	=	-88.1	/	-703.4
	=	12.52 %

CIT Group's Tax Rate % for the quarter that ended in Sep. 2021 is calculated as

Tax Rate %	=	Tax Expense (Q: Sep. 2021 )	/	Pre-Tax Income (Q: Sep. 2021 )
	=	55.5	/	231
	=	24.03 %

CIT Group Tax Rate % Related Terms

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CIT Group (CIT Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » CIT Group Inc (NYSE:CIT) » Definitions » Tax Rate %

Comparable Companies

Traded in Other Exchanges

N/A

Address

11 West 42nd Street, New York, NY, USA, 10036

Website

http://www.cit.com

CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables.

Executives

John J. Fawcett	officer: EVP and Chief Financial Office	C/O CIT GROUP INC., 1 CIT DRIVE, LIVINGSTON NJ 07039
Wahida Plummer	officer: EVP & Chief Risk Officer	C/O CIT GROUP INC. 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
Marisa Harney	officer: EVP & Chief Credit Officer	C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
Steve Solk	officer: President, Consumer Banking	C/O CIT GROUP INC., ATTN GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Sheila A Stamps	director	C/O CIT GROUP, 1 CIT DRIVE, ATTN: GENERAL COUNSEL, LIVINGSTON NJ 07039
Michael L. Brosnan	director	C/O CIT GROUP INC. - GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Gina M. Proia	officer: EVP & Head of Marketing	C/O CIT GROUP INC., ATTN GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Denise M. Menelly	officer: EVP, Head of Technology & Ops	C/O CIT GROUP INC., 1 CIT DRIVE LIVINGSTON NJ 07039
Edward K Sperling	officer: EVP & Controller	C/O CIT GROUP, 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
Ellen R Alemany	director, officer: Chair & CEO	ONE ADP BOULEVARD, ROSELAND NJ 07068
James J Duffy	officer: EVP & Chief HR Officer	C/O CIT GROUP, 11 WEST 42ND ST. NEW YORK NY 10036
Gerald Rosenfeld	director	C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
David Harnisch	officer: Pres., Commercial Finance	C/O CIT GROUP, 1 CIT DRIVE LIVINGSTON NJ 07039
Alan L Frank	director	C/O CIT GROUP, 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
John R Ryan	director