Archived Tax Facts

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2016

ACT Tax Facts: It's the 30th Birthday of the U.S. Tax Code and The World Is a Very Different Place Today

October 22nd marked the 30th anniversary of the 1986 Tax Reform Act, but the world is a very different place today than it was when the United States last undertook tax reform. Like cassette tapes and fanny packs, the tax code is outdated and out of style. In light of the 30th anniversary of the Tax…

ACT Tax Facts: To Fix the International Tax System, Harmonizing with the Rest of the World is the Answer, Not Repealing Deferral

Unfortunately, as the importance of success in foreign markets has grown, the United States has become less competitive abroad because of its worldwide system of international taxation. - Senators Rob Portman and Charles Schumer on the need to fix our international tax system July 2, 2015 There is w…

ACT Tax Facts: Whether it's the Effective Rate or the Statutory Rate, U.S. Businesses Face an Uncompetitive Tax Rate

It is a simple, well-known fact: The 35-percent U.S. corporate tax rate is the highest in the developed world and, adding in state taxes, is 14.7 percentage points above the unweighted average of the other 34 OECD member countries, including Japan, the UK, France, Germany, and Canada. A lesser known…

ACT Tax Facts: U.S. avoided having world's highest corporate tax rate in 2015, thanks to Guyana

U.S. had the second highest corporate tax rate in the world in 2015 Among its peer group of 34 advanced economies that are members of the Organization for Economic Cooperation and Development (OECD), it is frequently mentioned that the U.S. combined federal and state statutory corporate tax rate of …

ACT Tax Facts: Busting the Top 6 Corporate Tax Myths of 2015

The Alliance for Competitive Taxation's 2016 resolution is to set the record straight about the U.S. corporate tax system. MYTH 1. Corporations have more than $2 trillion in untaxed profits sitting offshore. To succeed in foreign markets, U.S. companies frequently need local operations for product d…

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