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A study of how increase in the corporate income tax rate affect the national employement rate is |
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Answer» The United States taxes the profits of US resident C CORPORATIONS (named after the relevant SUBCHAPTER of the Internal Revenue Code) at 21 percent.Taxable corporate profits are EQUAL to a corporation’s RECEIPTS less allowable deductions—including the cost of goods sold, wages and other employee compensation expenses, INTEREST, nonfederal taxes, depreciation, and advertising. US-based corporations owned by foreign multinational companies generally face the same US corporate tax rules on their profits from US business activities, as do US-owned corporations. |
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