From the Tax Foundation:
Tax Foundation released a new study
today exploring how the U.S. corporate tax system compares with those
of our major trading partners. The study illustrates how the United
States has the highest overall corporate income tax rate (39.3 percent
combined federal and sub-federal) among all countries in the
Organization for Economic Cooperation and Development (OECD). Japan
(39.0 percent) and Germany (38.9 percent) have the second and third
highest corporate income tax rates. In contrast, Ireland (12.5 percent)
has the lowest corporate tax rate in the OECD.
Update: Joe tells me that NC’s highest rate
is 6.9%, making the effective corporate tax rate in NC even higher than
the national average 39.3%. As such, North Carolina can be
officially labeled as one of the worst places on the planet, tax-wise,
to do business.
