Corporate Tax

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Corporate Tax

A tax levied on corporations' profits. Because corporations are legal entities separate from their owners, they may be taxed as if they were persons. A corporate tax, then, is the equivalent of the income tax for natural persons. Corporate taxes vary from country to country; in the United States, they are levied at both the federal and state levels. Proponents of the corporate tax argue it guards against excessive profits that may result from unethical or illegal corporate practices, while opponents say that corporations simply pass on the tax to their customers.
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References in periodicals archive ?
However, a global analysis of rates of corporate taxes would suggest that countries with low corporate taxes are doing economically better than their counterparts with higher rates.
Because how much state governments receive in corporate taxes depends far more on how much profit is tax-liable, as opposed to the rate on which that profit is taxed, the researchers recommended a shift in public discourse toward the closing of corporate-tax loopholes.
"Our main result is that firm owners bear a substantial portion of the incidence of corporate taxes in an open economy," the authors conclude.
Gallen; and Valeria Merlo and Georg Wamser, ETH Zurich, "Corporate Taxes and Internal Borrowing within Multinational Firms"
Reiterating the need to lower corporate taxes as a means to boost Japanese companies' international competitiveness, Kan said that even if the corporate tax rate declines, tax revenue will be secured to some extent by a broadened tax base.
For companies, it means that the management of taxes will become much more important.' 'In the past, many countries have used corporate taxes as a competitive tool to attract investment,' he added.
Nelson is in charge of the campaign to defeat January's Measure 67, which raises corporate taxes. In 1993, he ran the unsuccessful campaign to pass Measure 1, which, among other things, boosted corporate taxes.
When you add state corporate taxes to the 35 percent federal rate, you arrive at a whopping 40 percent average corporate tax burden, the second highest among the 30 countries in the Organization for Economic Cooperation and Development (OECD).
Japan's tax revenues for fiscal 2008 will be finalized in July after corporate taxes are collected in May from companies that closed their annual books on March 31.
While this burden has fluctuated over time, the relationship between corporate taxes and wages has been consistently negative.
While corporate taxes accounted for nearly 30% of total federal revenues

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