Corporate Income Tax: Effective Tax Rates Can Differ Significantly from the Statutory Rate

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By James R. White (au)
Year: 2013
Pages: 42
Binding Paperback
ISBN 978-1-4578-4726-4

Product Code: 1457847264

Description

Proponents of lowering the U.S. corporate income tax rate commonly point to evidence that the U.S. statutory corporate tax rate of 35%, as well as its average effective tax rate, which equals the amount of income tax corporations pay divided by their pretax income, are high relative to other countries. However, a 2008 report on corporate tax liabilities found that nearly 55% of all large U.S.-controlled corporations reported no federal tax liability in at least one year between 1998 and 2005. Given the difficult budget choices Congress faces and its need to know corporationsäó» share of the overall tax burden, this report assessed the extent to which corporations are paying U.S. corporate income tax. The report (1) defines average corporate effective tax rates (ETRs) and describes the common methods and data used to estimate this rate and (2) estimates average ETRs based on financial statement reporting and tax reporting. Tables and figures. This is a print on demand report.

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