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US Corporations Pay Taxes Far Below Statutory Rate
Source:
247wallst.com
- Aug 11, 2017
The statutory federal corporate tax rate in the United States is 35%, and it has been since 1993. Any company that pays that rate should probably be looking for a new chief financial officer.
When state taxes are slotted in, the average combined tax rate is 39.1%, according to a recent report from the Congressional Budget Office (CBO). Again, though, it is a rare company that pays that much in taxes. Apple Inc. (NASDAQ: AAPL), for example, reported a third-quarter fiscal 2017 effective tax rate of 22.9%. Boeing Co. (NYSE: BA) reported a fiscal second-quarter effective tax rate of 28.7%.
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Category: General Business
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