|
American corporations theoretically pay 35% of
the
profit they earn from domestic operations to the
Internal
Revenue Service in the form of income tax.
Employees
of
these corporations also pay taxes on income
personally
earned as salary, dividends and capital
gains.
Small business
owners add business profits to their
personal income and pay tax at the standard rate
based
on how much they have earned.
Other nations
charge less corporate tax and this nation
does not tax profits earned overseas. This is one
reason
businesses move their headquarters overseas to
places
like the Cayman Islands that do not tax corporate
income.
This may be
considered good business if loyalty to this
nation is not a concern, only owner income is
considered,
the foreign nation remains stable and the quality
of
research, production and service remains high and
local
customers remain loyal to the brand.
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|
According to
Forbes the Projected 2013 marginal personal income
tax rates are
expected to be:
|
Rate
|
Single
|
Married
|
Head
of House
|
|
10%
|
$0
to $8,925
|
$0
to $17,850
|
$0
to $12,750
|
|
15%
|
$8,925
to $36,250
|
$17,850
to $72,500
|
$12,750
to $48,600
|
|
25%
|
$36,250
to $87,850
|
$72,500
to $146,400
|
$48,600
to $125,450
|
|
28%
|
$87,850
to
$183,250
|
$146,400
to $223,050
|
$125,450
to $203,150
|
|
33%
|
$183,250
to $398,350
|
$223,050
to $398,350
|
$203,150
to $398,350
|
|
35%
|
$398,350
to $400,000
|
$398,350
to $450,000
|
$398,350
to $425,000
|
|
39.6%
|
$400,000
and up
|
$450,000
and up
|
$425,000
and up
|
Stocks, bonds,
precious metals and property held for more than a
year that
increased in value and sold are taxed at the
"Capital gains rate of 15%.
Anyone
self-employed also pays the equivalent of 12.4% of
their salary as "Payroll tax."
Employees pay 6.2% and employers pay an additional
6.2% for a total of 12.4%
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