What taxes do corporations pay?

My federal tax rate is 15% or so, my state income tax rate is 6% i think, my sales tax rate is 6%, My ss tax is 6.5%, my medicare tax rate is...My property tax rate is, My taxes on my utility bills are...etc etc....

22% is darn cheap for total taxes.
 
US... the 22% represents the corps INCOME tax. It does not include the portions they pay into SS, their property tax, utilities, sales tax etc... those are all included under their expenses PRIOR to net income.

Thus, their total of 22% is higher than your total of 21% (federal and state). So you need to up your payments by another percent. ;)
 
but I don't get to deduct but a couple of those taxes before my net income figure....Think about it....If I could my percentage figure would be quite a bit lower.
 
uscitizen said:
Taxing corporations is not the way to limit their destructive and dictatorial goals.
//

Not my goal AHZ, you assume too much. Just know we will have to raise much more tax revenue in the near future and looking for ways to do that.
Click to expand...

For what? Baby boomers who were told the world owes them a living?
 
The world does not owe this boomer a living, I have always made my own way.
But you do have a point, and the Gen X'ers are even worse...

Of course if you refer to SSI, that was not a tax it was insurance payments.....umm forced contributions....And never deductible by individuals.
 
I'm not sure what "gross receipts" means - I'm pretty busy at work so I don't really have the time to reread it. If its revenues, then that's not a good indicator because companies are taxed on income not revenues. Meaning they could have had $100 in revenues and $200 in expenses. They'd get taxed on -$100 which is a zero liability. Unless there are specific tax shelters that these reports can refer to, I'm not sure how valuable they are.
 
Depends on what the "expenses" for tax purposes are, some are sort of bogus.

but basically I agree with you Darla.
Sure would be nice to get clear accurate data.
 
Desh... did you actually READ the info on your last link, or just the first page?

Take a look at the graph on page two. It shows that the average rate of corporate taxes was about 30-35% during the bull market run of 1982-2000. Then if fell off dramatically in 2001-2002... which should be no surprise given the losses incurred by many companies during that time frame. Many companies over that time were "cleaning up" their books given the new regulations in the aftermath of the Global Crossing, WorldCom, Enron disasters.

I would also argue the reports assessment that profits were going up in general over that time frame. Earnings and profitability were falling for most US firms during that time frame.
 
"I suspect that the essence of Desh's posts are true, but cannot veryify that."

Um... NO they are not. Both of her links are very vague and do not hold up. Take a look at her last link. The chart on it shows that the average corp tax rate stayed in the 30-35% range for the majority of the time during the bull run. Then came down in the two worst years the market has seen since 73-74. I would imagine if that were updated to 2006 you would find that it has begun to increase back towards the 30% range.
 
Super what did you not understand about my post:
"I suspect that the essence of Desh's posts are true, but cannot veryify that."
to which you reply no they are not.....
 
US...

You said you suspect the essence of her posts are true and that you could not verify. I was letting you know your suspicions were... um... WRONG.

Sorry, didn't realize that would be so confusing to an old timer like yourself. ;)
 
a 22% or so TOTAL tax rate, that sucks. As I said before.
Mine is about 15% federal icome tax alone , add 6.5 or so for SS, State , property, etc I am probably about 40%
 
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