Unfortunately, on Corporate Tax Rates, U.S. Could Soon be No. 1

By October 19, 2010Taxation

Manufacturers have led the charge in recent years to lower corporate tax rates and many others have joined us in pointing out that the U.S. has the second highest corporate tax rate among developed countries.

Well, that could change soon. Japan—the only county that bests us in the corporate tax rate department—is thinking of joining a worldwide trend and lowering the country’s corporate tax rate. In fact, the Japanese government sees a lower corporate tax rate as key to the country’s industrial competitiveness.

So where would that leave us?  Out in front with a uncompetitive worldwide tax system and the highest tax rates in the world—and not a place where you’d want to headquarter your company, perform the bulk of your R&D and use as a manufacturing platform.

Dorothy Coleman

Dorothy Coleman

Dorothy Coleman is vice president of tax and domestic economic policy at the National Association of Manufacturers (NAM). Ms. Coleman is responsible for providing NAM members with important information related to tax issues and representing the NAM’s position to Congress, the Administration and the media. An NAM spokesperson for tax policy issues, she coordinates membership coalitions; prepares testimony, reports and analyses; and responds to media inquiries. Before taking over as vice president of the tax policy department, she served as director of tax policy from April 1998 to April 2000.
Dorothy Coleman

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