According to The Tax Foundation, corporate income taxes
in 2015 are levied in 44 states and account for a relatively small share of state revenue -- 5.
The remainder of this literature review summarizes studies that are narrowly focused on state corporate income taxes
and/or state employment growth.
In the penultimate section, we discuss some of the policy implications that flow from our computations of the MCF for both the federal and provincial governments, our results indicate that the cost of raising additional tax revenue through corporate and personal income tax increases is high, and that significant welfare gains would flow from reducing provincial corporate income taxes
along with a revenue-neutral switch to higher provincial sales taxes in Alberta, British Columbia, Manitoba, New Brunswick, and Quebec.
50 for every $1 reduction in state and local corporate income taxes
Much of the decline in federal corporate income taxes
is a result of Congress's allowance of passthrough entities for federal income tax purposes.
Whereas government victories in federal tax shelter litigation help to protect the corporate income tax as a reliable source of revenue, no amount of courtroom success can ensure the long-term viability of state corporate income taxes
In both cases, a small number of corporations paid the bulk of corporate income taxes
A Real Estate Investment Trust is a form of stock company that owns, operates, or finances real estate and does not pay corporate income taxes
as long as it returns at least 90% of its income to shareholders as dividends.
To put that figure in perspective, it's useful to note that in 2002 the federal government collected $949 billion in individual income taxes and $201 billion in corporate income taxes
To say that stockholders pay corporate income taxes
is at complete odds with the facts.
According to LeRoy, corporate income taxes
now make up only about 7 percent of state tax revenues.
So Reich's big proposal is to wipe out corporate income taxes
for companies that treat their workers well.