3 ms·
Despite crazy rules, America is still a great place to do business
- pj 17y agoFrom the linked article, But corporate taxes are steep. Federal and state taxes on profits together average 39.3%, the second-highest rate in the rich world. However, from http://www.nytimes.com/2008/08/13/business/13tax.html http://www.nytimes.com/2008/08/13/business/13tax.html Two out of every three United States corporations paid no federal income taxes from 1998 through 2005, according to a report released Tuesday [August 2008] by the Government Accountability Office, the investigative arm of Congress. Back to economist: many misunderstand complex disputes, products never launched for fear of litigation, etc... Time for a legal refactoring. It's gotten so complex it is too costly to maintain.
- ShabbyDoo 17y ago>Two out of every three United States corporations paid no >federal income taxes from 1998 through 2005 Does this count my LLC (me consulting) with no retained earnings?
- Kadin 17y agoI'm betting that "two out of three" figure includes pass-through entities like partnerships and S-corps, and corporations that don't have any profits because everything is re-invested in the company (as would be the case in some startups and other organizations bootstrapping themselves from retained earnings). In other words, it's almost certainly misleading.