US CORPORATE TAX RATES: Has anyone really looked at this lately... First $50,000 .........................15.00 $50,000-$75,000 ..................25.00 $75,000-$100,000 ................34.00 $100,000-$335,000 ..............39.00 $335,000-$10,000,000 .........34.00 $10,000,000-$15,000,000 ....35.00 $15,000,000-$18,333,333 ....38.00 Over $18,333,333 .................35.00 Now, take a minute to realize what is happening to small business here. A small 1-2 person firm that makes $330,000 in taxable income will pay 39% of that or $128,700 in taxes. But a larger 7 person business making $500,000 a year only pays 34% or $170,000 in taxes. So, $170,000 more in revenue and only $40,000 or more in extra taxes. That is like getting $130,000 for FREE. Also, why the jump from 35%-38% in the $15M-18M category? This has to be based on statistical data. It likely optimizes the money collected for the income bands most used so that the maximum effective tax is collected. Just thought you might want to know.
Posted on: Sun, 20 Apr 2014 10:05:42 +0000
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