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Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017.
The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Personal income tax includes all applicable taxes, including all unvested social security contributions.
Corporate tax rates generally are the same for differing types of income, yet the US graduated its tax rate system where corporations with lower levels of income pay a lower rate of tax, with rates varying from 15% on the first $50,000 of income to 35% on incomes over $10,000,000, with phase-outs.
The statutory corporate tax rate in America is a mere 21%, which dramatically declined from 35% under the Trump administration. ... and Nvidia all reporting profits in 2022 yet paying zero income ...
According to the Cato Institute's Adam Michel, if Biden is successful in raising the corporate income tax to 28 percent, the U.S. would have the second-highest such rate among the market-oriented ...
Falling corporate tax rates in the U.S. are part of a global trend that has governments charging big business less in tax while looking to make spending cuts across a wide range of social programs.
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