Corporate Income Tax in US, Canada and Taiwan

choi

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(1) Federal corporate income tax (US)
Jason Clemens, Canada, Land of Smaller Government; Its corporate income tax
rate is 18% and falling. America's is 35%. Wall Street Journal, Aug. 9, 2010.
http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748703977004575393221638794924.html

(2) States also tax corporations.

RANGE OF STATE CORPORATE INCOME TAX RATES (For tax year 2010 -- as of
January 1, 2010)
http://www.taxadmin.org/fta/rate/corp_inc.pdf

The information about Massachusetts is correct and update. Massachusetts
enacted legislation in 2008, (a) eliminating distinction of domestic and
foreign corporation (the former is based within, while the latter without,
Massachusetts); (b) reducing corporate tax gradually from 9.75% to 8.0% in
2012. (Massachusetts taxes financial institutions at a higher rate than
other corporations.)

Massachusetts taxes "apportioned share of the business income, together with
that member’s own allocated (non-business) income." The latter, I guess,
means such income as interests from cash the company sits on as well as
return on investment.

(3) Taiwan reduced corporate income tax from 25% to 20% starting Jan. 1,
2010. On May 28, 2010 Legislature furture reduced the rate to 17% which
would be retroactive to Jan. 1, 2010.
許湘欣, 投信：營所稅降 提升企業競爭力. Central News Agency, May, 28, 2010.
http://n.yam.com/cna/fn/201005/20100528122770.html


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