Close Corporate Loopholes

Copyright

2021

Published Date

04/16/2021

Published By

Well Being In the Nation Network

Tax loopholes are ways to avoid paying taxes. The United States has one of the world's highest corporate income tax rates, at 35%. Yet hardly any corporation pays that rate, and many corporations pay no taxes at all, due to corporate tax loopholes. For example, companies count revenue overseas or give stock options to top executives at a discount. It is estimated that U.S. corporations avoid paying $90 million in taxes a year by using tax loopholes.