Bank of America (LIM:BAC) Tax Rate % : 5.84% (As of Sep. 2024)

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What is Bank of America Tax Rate %?

Tax Rate % is calculated as Tax Expense divided by its Pre-Tax Income. Bank of America's Tax Expense for the three months ended in Sep. 2024 was $428 Mil. Bank of America's Pre-Tax Income for the three months ended in Sep. 2024 was $7,324 Mil. Therefore, Bank of America's Tax Rate % for the quarter that ended in Sep. 2024 was 5.84%.

Bank of America Tax Rate % Historical Data

The historical data trend for Bank of America'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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Bank of America Tax Rate % Chart

Bank of America Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Tax Rate %

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16.25

5.80

5.88

11.11

6.45

Bank of America Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Tax Rate %	Get a 7-Day Free Trial															3.62	-0.64	8.10	8.77	5.84

Bank of America Tax Rate % Calculation

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

Bank of America's Tax Rate % for the fiscal year that ended in Dec. 2023 is calculated as

Tax Rate %	=	Tax Expense (A: Dec. 2023 )	/	Pre-Tax Income (A: Dec. 2023 )
	=	1827	/	28342
	=	6.45 %

Bank of America's Tax Rate % for the quarter that ended in Sep. 2024 is calculated as

Tax Rate %	=	Tax Expense (Q: Sep. 2024 )	/	Pre-Tax Income (Q: Sep. 2024 )
	=	428	/	7324
	=	5.84 %

Bank of America Tax Rate % Related Terms

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Bank of America Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Bank of America Corp (LIM:BAC) » Definitions » Tax Rate %

Comparable Companies

Address

100 North Tryon Street, Bank of America Corporate Center, Charlotte, NC, USA, 28255

Website

https://www.bankofamerica.com

Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.