Gary G. of Grasslands, the entreprenuerial blog, tells of a new form of business entity called the B corporation:
Traditionally, business owners have had the same few choices when it comes to incorporating. Either go unincorporated (as a sole proprietor or partnership), or form an LLC, S or C corporation. The differences between these various entities [...]
Tags: Corporate Tax · Opinion · Politics of Taxes · Tax Policy
International accounting firm KPMG has issued Competitive Alternatives 2010 Special Report: Focus on Tax which shows that the United States’ total business tax burden relative to other first world countries has increased since 2008:
Mexico remains in the number one spot for having the lowest total taxes, but changes to the tax systems in Australia, Canada, and the Netherlands have [...]
Tags: Corporate Tax · News
Pro-taxers regularly accuse the right of peddling lies about taxes, but the repeated assertion that corporations have successfully lobbyed Congress to lower their taxes is bigger than the one Pinnochio told Gepetto.
Mike Godfrey of TaxNews.com reports that the US corporate tax system has become “unwieldy, inconsistent with world practice, and highly anti-competitive,” according to a new study by the University of Calgary:
With [...]
Tags: Corporate Tax · Tax Policy
Doug Lederman writing for USA Today says that the IRS is examining the executive compensation structures of 400 colleges and universities to determine whether or not they are violating the rule against private inurement:
In more than 30 reviews the Internal Revenue Service is conducting of individual colleges and universities, it is focusing mostly on issues [...]
Tags: Corporate Tax · IRS Audits · IRS procedure
Michael Boskin of the Wall Street Journal says it’s time to get rid of the corporate income tax:
President Obama has put tax reform on the agenda, but surprisingly little attention is being paid to fixing the most growth-inhibiting, anticompetitive tax of all: the corporate income tax. Reducing or eliminating the corporate tax would curtail numerous [...]
Tags: Corporate Tax
Cato Institute’s Chris Edwards takes exception to White House National Economic Council Director Larry Summers‘ call for increased U.S. corporate income tax rates:
Summers apparently wants corporations to “help the country” by paying more taxes. But Larry must know that it is individual workers, consumers, and savers who actually bear the burden of the corporate tax. These people are “the country” [...]
Tags: Corporate Tax · Tax Policy
In a recent blog post titled 5 Reasons to Incorporate (in Addition to my Fees) I said the following:
IRS statistics show that it audits Schedule C businesses much more frequently than it does S Corporations and LLCs. This reason alone is sufficient to justify the additional costs and paperwork associated with forming a separate legal [...]
Tags: Corporate Tax
I just read two weekend posts by Paul Caron of TaxProf Blog titled GAO: 83% of Largest U.S. Companies Use Offshore Tax Havens; and WSJ: Best Economic Stimulus: A Corporate Tax Rate of Zero.
In the first post, Professor Caron reports that a General Accountability Office (GAO) study indicates that more than 2/3rds of America’s largest corporations have subsidiaries in [...]
Tags: C Corporations · Corporate Tax · Opinion · Tax Policy
Ahhh, the weird, wild, wonders of Washington never cease to amaze.
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.
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
Wall Street Journal – Taxes Blog
