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1 Kyle Pomerleau, Eliminating Double Taxation through Corporate Integration 1 (2015)

handle is hein.taxfoundation/eldutxci0001 and id is 1 raw text is: TAXOi FOUNDATION FISCAL FACT Feb. 2015 No. 453 Eliminating Double Taxation through Corporate Integration By Kyle Pomerleau Economist Key Findings * The United States' tax code places a double-tax on corporate income with one tax at the corporate level through the corporate income tax and a second tax at the individual level through the individual income tax on dividends and capital gains. * The combined (integrated) tax rate on corporate income in the United States is 56.6 percent, which is the second highest in the developed world. * The double-taxation of corporate profits reduces investment, encourages corporations to borrow money to finance investment, and encourages structuring as a pass-through business. * Short of reforming the entire U.S. tax code, integrating the corporate and individual income tax could eliminate the double taxation of corporate income. * Both Australia and Estonia, among many other developed countries, integrate their corporate and individual income tax code in order to eliminate double taxation. .........................................................................................................................

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