How Much Are U.S. Companies Paying in Corporate Taxes?

how-much-are-us-companies-paying-in-tax

It’s no secret that the nation’s wealthiest individuals pay the most in taxes, but did you know that the United State’s corporate tax rate is also among the world’s highest? According to a report from Accounting Today, accounting and consulting firm UHY, says the U.S. corporate tax rate is 41.1 percent. That represents a much higher rate than the global average, which UHY reports is 27 percent.

A closer look at the numbers reveals that for European countries the average corporate tax rate is 25.3 percent, while the average rate for the G7 countries comes in at 32.3 percent. The good news for American companies is that the effective corporate tax rate is typically much lower than the 41.1 percent statutory rate. That number is often offset by several different tax deductions and tax-planning opportunities.

There are many advantages of having lower corporate taxes. For example, lower taxes can help free up more profits which in turn can help countries stimulate more new growth and contribute to creating a more competitive advantage by discouraging companies from jumping ship to foreign countries with more completive tax rates. Likewise countries with lower corporate tax rates can also attract businesses from other countries, which is also an effective way to improve a country’s economic growth and competitiveness.

http://www.accountingtoday.com/news/tax-practice/study-shows-us-corporate-tax-rate-among-highest-78113-1.html/

Posted in
Jason Ma on Shaping Next-Gen Leaders

Jason Ma on Shaping Next-Gen Leaders

Jason Ma Discusses Shaping Next-Gen Leaders on Alan Olsen‘s The American Dreams Show Transcript of American Dreams interview titled; “Mentoring The Next Generation“ Transcript: Alan Olsen Welcome to American Dreams. My guest today is Jason Ma. Jason, welcome to today’s program.   Jason Ma Thank you so much for inviting. It’s an honor and pleasure…

Austin Fowler on The Power of Quantum Computing and Ethical Investing

Austin Fowler on The Power of Quantum Computing and Ethical Investing

Austin Fowler Discusses The Power of Quantum Computing and Social Investing on Alan Olsen‘s American Dreams Show., episode  Transcript of American Dreams interview titled; “Empowering Financial Growth and Social Impact with Austin Fowler“. Alan Olsen Hi, this is Alan Olsen and welcome to American communities. My guest today is Austin Fowler. Austin. Welcome to today’s…

Successful Entrepreneurs Share 9 Essential Qualities

Successful Entrepreneurs Share Unique Qualities In the dynamic landscape of business, entrepreneurship stands as a beacon of innovation and change. Behind every successful venture lies an individual with a unique blend of qualities that propel them toward success. Whether it’s a tech startup disrupting an industry or a small local business thriving in a competitive…

Tom Wheelwright Talks Tax Free Wealth

Tom Wheelwright Talks Tax Free Wealth

Tom Wheelwright sits down with Alan Olsen, Host of the American Dreams show to discuss tax free wealth. Transcript: Alan Olsen Welcome to America Dreams. My guest today is Tom wheelwright CPA, Tom, welcome to today’s show. Tom Wheelwright Thanks, Alan. It’s really always good to be with you. Alan Olsen I am really excited…