The company founded and formerly run by Energy Secretary Chris Wright paid no federal corporate income taxes last year, according to its regulatory filings, and actually got more than $10 million back from the IRS.
Liberty Energy, the oil field services company Wright founded in 2011 but left last year to join the Trump administration, was among several energy companies included in a report issued Tuesday by the nonpartisan Institute on Taxation and Economic Policy naming 88 companies that together made more than $105 billion before taxes last year but paid no federal corporate income taxes.
Liberty recorded net income before taxes of $193 million last year but received more than $10 million back in tax benefits, according to its latest annual financial disclosure. The company paid $33 million in federal taxes for the 2024 tax year after making a net income of $403 million before taxes.
Liberty did not answer questions about its tax position. Wright left his role as CEO of the company once he was confirmed to the Cabinet post on Feb. 3, 2025. ITEP’s report did not mention Wright or his position in the Trump administration.
