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

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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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