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U.S. Businesses Pay or Remit 93 Percent of All Taxes Collected in America

Setting aside the debate over whether a low tax bill is fair, what is missed in such stories is that American businesses are critical to the tax collection system at every level of government—federal, state, and local. Businesses either pay or remit more than 93 percent of all the taxes collected by governments in the U.S. Without businesses as their taxpayers and tax collectors, American governments would not have the resources to provide even the most basic services.

Taxable Income vs. Book Income: Why Some Corporations Pay No Income Tax

Why do some companies appear to be profitable but pay little or no federal income taxes? It’s largely due to differences between book and taxable income.

How High are Other Nations’ Gas Taxes?

The Lowered Corporate Income Tax Rate Makes the U.S. More Competitive Abroad

One of the most significant provisions in the Tax Cuts and Jobs Act was the reduction of the U.S. corporate income tax rate from 35 percent to 21 percent. Over time, the lower corporate rate will encourage new investment and lead to additional economic growth. It will make the U.S. more attractive for companies by increasing after-tax returns on investments and will discourage companies from shifting profits to low-tax jurisdictions.

Reliance on Individual Income Tax Revenue in Europe

Anti-Base Erosion Provisions and Territorial Tax Systems in OECD Countries

The U.S. decision to adopt a territorial tax system is certainly an improvement over having a worldwide system. However, in moving to a territorial system some of the new features created with the TCJA increased the complexity of the system.

To What Extent Does Your State Rely on Property Taxes?

Will Rhode Island Offset Wayfair Influx with a Sales Tax Cut?

Oregon Another Step Closer to a Gross Receipts Tax Funding Public Education

A Property Tax is a Wealth Tax, but…

Warren’s comparison between the property tax and her proposed wealth tax makes a good sales pitch. However, there are important differences between the taxes. By no means is the property tax in many jurisdictions perfect, but it is generally better structured than a wealth tax.