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Unread 11 Aug 2008, 01:36   #44
G.K Zhukov
Evil inside
 
Join Date: Nov 2001
Posts: 3,631
G.K Zhukov is an unknown quantity at this point
Re: Council strike, inflation and living cost

Quote:
Originally Posted by dda View Post
In the US, corporate tax rates are higher than individual tax rates, plus the dividends paid to stock holders is also taxable. Double win for the government.
And a double win for those of us who can seek out information on the intarweb!!

Corporate income tax

Main article: Corporate tax in the United States

In the United States, the federal corporate income rate for the year 2006 varies between 15 and 39% depending on taxable income. But since 1999, when Treasury announced the "check the box" system many corporations can elect to be treated as a pass-through entity, thereby skipping the entity level 35% tax and having all income pass through to the shareholders. This is the tax treatment that the much discussed "S" corporations receive; but now many more types of state-law corporations may avoid double taxation by "checking the box". Dividends are also subject to a lower rate of income tax in the United States. The U.S. corporate tax rate is ranked as the second highest statutory rate among the OECD countries (the U.S. average rate of 39.3 ranks just behind Japan's 39.5 and well above the OECD average of 28.7).[27] However, the U.S also has the greatest number of corporate tax loopholes of any OECD member,[28] allowing many corporations to achieve a lower effective tax rate than the published rates.
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