Business
American Express Saves Taxes in (Not New) Jersey
American Express lowered its corporate income taxes by $241 million through operations on the island of Jersey in 2025, the company reported in a securities filing on Friday. The company didn’t have a similar disclosure for 2024, but new accounting rules are requiring corporations to report more granular details now.
Jersey, located in the English Channel, has a population of about 104,000. It’s a Crown Dependency that’s governed separately from the United Kingdom.
The $241 million is the combination of two factors: Jersey’s low corporate income tax rate (0% for most companies) and the 15% income tax it created as part of the global agreement to impose corporate minimum taxes. Without the Jersey effect, American Express’s tax rate would have been 1.8 percentage points higher.
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