Ahhh, the weird, wild, wonders of Washington never cease to amaze.Â
Apparently, when a Democrat proposes a tax cut for the rich it’s an exercise in sound judgment, but when a Republican does it it’s an example of criminal mischief.Â
After eight relentless years of badgering George Bush and his corporate “cronies” for favoring wealthy corporations over the middle-class [...]
Tags: Corporate Tax · Legislative Watch
The Wall Street Journal reports in an article titled AIG’s Tax Dispute With U.S. has Twist of Irony that,
American International Group Inc. is in a battle with the Internal Revenue Service over $329 million in back taxes and penalties in part stemming from the company’s use of a type of transaction the IRS has called “abusive,” [...]
Tags: Corporate Tax · Court Cases · Credits · Legislative Watch · Opinion
Once again on TaxProf Blog I find a link to an interesting tax article, 20 Reasons to Kill the Corporate Tax, written by (fellow Greek?) James Pethokoukis of U.S News and World Report.
Here are Pethokoukis’ more interesting (and rarely mentioned) reasons for eliminating the corporate income tax:
4. Some 70 percent of the corporate tax burden is borne by [...]
Tags: C Corporations · Corporate Tax
The United States has the second highest corporate tax rate of the 30 members of The Organisation for Economic Co-operation and Development (OECD).
The U.S. rate is 39.25% compared to the OECD average of 26.6. Japan is first with a corporate tax rate of 39.54%.
When asked for his reaction to the findings, Senator Byron Dorgan, the [...]
Tags: Corporate Tax