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1 Jack Mintz & Duanjie Chen, The U.S. Corporate Effective Tax Rate: Myth and the Fact 1 (2014)

handle is hein.taxfoundation/taxfaaac0001 and id is 1 raw text is: TA r FOUNDATION Feb. 2014 No. 214 The U.S. Corporate Effective Tax Rate: Myth and the Fact By Jack Mintz Director and Palmer Chair in School of Public Policy, University of Calgary & Duanjie Chen Research Fellow, School of Public Policy, University of Calgary Key Findings * The marginal effective tax rate (METR) on corporate investment (i.e., the tax impact on capital investment as a portion of the cost of capital) is 35.3 percent in the U.S.-higher than in any other developed country. * The U.S. has maintained the highest METR in the OECD since 2007, when Canada's multiyear program of corporate tax reform brought its METR below the G-7 average. * Nonetheless, the White House and Treasury Department continue to assert that the U.S. has a lower METR than Canada by failing to properly account for sales and property taxes. * The U.S. METR varies by industry, from 26.7 percent for transportation to 39.3 percent for communications. * The U.S. average effective tax rate on corporations (AETR) is irregular from year to year due to the complexity and instability of the corporate tax code. * Excessively high U.S. corporate tax rates have shrunk the U.S. corporate sector and reduced corporate tax revenues. ...................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

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