As North Carolina debates a potential decrease in its corporate tax rate (Gov. Beverly Perdue wants to drop the rate from 6.9 percent to 4.9 percent, while Joseph Coletti advocates an even greater corporate tax rate reduction), the Cato Institute has released new information about effective corporate tax rates in 83 countries around the world. (You’ll find the information at this PDF link.)
From Cato’s Chris Edwards:
In 2010, the U.S. effective corporate rate of 34.6% was almost twice the 17.7% average rate in 83 countries. The U.S. effective tax rate was also the highest in the OECD.
?Effective? rates show the tax burden on new corporate investment, taking into account both statutory rates and aspects of the tax base.
