Activision Blizzard enjoyed a net corporate tax rebate of $228 million in 2018, amounting to an effective tax rate of -51%. Blizzard netted the rebate after pulling in $447 million in income.

Blizzard is one of 60 Fortune 500 companies reported on by the Institute of Taxation and Economic Policy in April 2019.

Other notable examples include Amazon, which made $10.8 billion in income and claimed a federal income tax rebate of $129 million using stock options, and Netflix, which used the same tax loophole to reduce its total tax burden by $191 million.

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