Oklahoma collected about $471 million in corporate income taxes
in fiscal 2018, which ended June 30, according to the Oklahoma Tax Commission's annual report.
Lowering corporate income taxes
, she said, would be a boon to the equities market which has been in a slump due to a confluence of factors that include rising oil prices, successive US Fed rate hikes, global trade war, depreciating peso, accelerating inflation and geopolitical concerns.
The authors go on to estimate how the burden of state-level corporate income taxes
ultimately affects the returns earned by corporations and their shareholders, the wages received by workers who live in a state, and landowners in the state.
The remainder of this literature review summarizes studies that are narrowly focused on state corporate income taxes
and/or state employment growth.
In fiscal year 2012, Apple paid $6 billion in federal corporate income taxes
, which is one out of every 40 dollars in corporate income taxes
collected by the US government, said Steve Dowling, a company spokesman.
Sales, individual income and corporate income taxes
were all below last year's figures and below forecast in December.
A new report by the Tax Foundation shows that the burden of corporate income taxes
is likely borne by workers--not investors.
States have watched as corporate income taxes
have shrunk as a percentage of state tax collection.
For defenders of state corporate income taxes
, Bankman's conclusions are not hopeful.
The new government released its budget message on May 2, 2006, adopting the first of TEI's budget recommendations to (i) implement a phased reduction of corporate income taxes
, (ii) eliminate the corporate surtax, and (iii) accelerate elimination of the Large Corporation Tax effective as of January 1, 2006.
In 2003, 252 Fortune 500 companies shielded two-thirds of all profits from state corporate income taxes
Traditionally, discussions of Indiana corporate income taxes
refer to the gross income tax, corporate adjusted gross income tax, and the supplemental net income tax (SNIT).