Just to be clear....it's the states (and only some) that want to tax internet sales, not the federal government.

But they cant do it (effectively) without the federal government. Right now they can only force retailers that have a presence in their state to collect it. It takes an act of Congress to allow them to force retailers outside their state to collect it.

Senate approves Internet sales tax proposal - May. 6, 2013

But you won't see them fix the corporate tax. I think the two should be tied together in a comprehensive package. Many corporations pay little tax. Some pay almost none.

Domestic businesses don't want the rate lowered because their loopholes will be closed in the process. They might actually have to pay some tax.

Multinational businesses say it's unfair to make them bring overseas profits home because the rate is too high.

The competing interests have created gridlock on this issue. In the end corporate tax will not be reformed and Congress will just get more revenue from the little guy.

That might be why the U.S. stock market is on a tear. Despite the listed tax rate, our corporations have big advantages.

Huh? America has one of the highest corporate tax rates in the world. On top of that, we no longer have tariffs, so China et al can dump their cheap goods in our country, causing the loss of entire industries and jobs.

Taxing the internet is another cheap ploy by the libs to fund their out of control government and its ineffective and costly welfare programs.

On taxes, just say, “No!"

NerdWallet Study: Top Companies Paid 9% U.S. Tax Rate


NerdWallet Study: Top Companies Paid 9% U.S. Tax Rate
by JOANNA PRATT on JULY 24, 2012

A recent NerdWallet study found that the top ten most profitable American companies paid an average of 9% of their pre-tax earnings in taxes to the U.S. federal government last year. These same companies reported an average tax provision of 32%.

Tax provision is the accounting metric for amount of taxes a company owes to all taxing entities, domestic and foreign. It includes both taxes that will be paid in the current year and taxes that have been deferred to be paid later.

Because tax provision includes both domestic and foreign, current and deferred taxes, NerdWallet researched further to find how much was actually paid by these American companies to the U.S. federal government in the most recent tax year. By dividing the current portion of federal taxes by pre-tax income, NerdWallet was able to calculate the percentage of these companies’ earnings that was paid to the U.S. government. For the ten American companies with highest earnings in the most recent fiscal year, this number averaged 9%.

There are many reasons a company can legally pay less than the statutory tax rate of 35%, including timing differences between accounting and tax codes and by earning and recognizing a portion of their earnings in foreign countries with lower tax rates.

Many believe that the current statutory tax rate of 35% is too high, including both presidential candidates. The fact that many large American companies pay the majority of their taxes to foreign governments has been cited as evidence that the rate is too high. Some believe that if corporate tax rates were lowered, American companies would recognize more of their profits domestically and have the net effect of increasing tax revenues.

http://www.bloomberg.com/news/2013-0...companies.html

Apples and oranges if you are a friend of the government you can get green energy kickbacks and pay 0 taxes on your income. If you are a small business you probably pay about 20-30% on your business income. If you are the in the evil big oil business you probably pay an effective rate upwards of 40%. It is all in who you know and who you are willing to payoff.

But it really doesn't have much to do with states trying to raise taxes by forcing people who don't live in their states to collect their slush money.

How about this structure? Seems to keep them competitive.

Singapore corporate tax rate is capped at 17%. By keeping corporate rates competitive, Singapore continues to attract a good share of foreign investment. Singapore follows a single-tier corporate tax system, where tax paid by a company on its profits is not imputed to the shareholders (i.e. dividends are tax free).

Singapore personal tax rates start at 0% and are capped at 20% (above S$320,000) for residents and a flat rate of 15% for non-residents.

How is Singapore's armed forces?

That seems like a hi tax for a city.