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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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US States Lead World In High Corporate Taxes,
bu Mike Godfrey, Tax-News.com, Washington 28 March 2008
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A new study from the Tax Foundation, a nonpartisan tax research group in Washington,
shows that most American states tax companies at a higher rate than any other
country in the developed world.
"This is startling news for America's businesses and workers," commented
Tax Foundation president Scott Hodge, the study's author.
"Tax competition for jobs and investment is fierce, and the US continues
to fall further and further behind. Our states should be the world's leaders
in many things, but high taxation should not be one of them. The high federal
corporate tax rate is literally crushing states' competitive abilities. That
means fewer jobs for American workers," he added.
Counting the federal rate alone, the US has the world's highest corporate tax
rate, but including average sub-national rates (federal plus state in the US),
Japan, with a combined rate of 39.54%, edges out the US for the highest-tax
location.
This new study breaks the tax down state-by-state, adding each state's corporate
tax rate to the federal corporate tax rate. The results show that: 24 states
impose, when combined with the federal rate, a higher business tax rate than
in any other nation; 32 states have a combined corporate tax rate higher than
third-ranked Germany; 46 states have a combined corporate tax rate higher than
fourth-ranked Canada; and all 50 states have a combined corporate tax rate higher
than fifth-ranked France.
"If federal lawmakers are serious about making the US corporate tax system
more competitive globally, they will have to partner with state officials to
lower the nation's overall corporate tax burden," Hodge added.
"Likewise, state officials should have a vested interest in cutting the
federal corporate tax rate because there is only so much they can do to improve
their own competitiveness."
After all, even corporations in the three states
that do not impose a major state-level corporate tax — Nevada, South Dakota,
and Wyoming — still shoulder a higher corporate tax rate than France, and
25 other major countries, because of the 35% federal corporate rate," he
observed.
The state of Iowa topped the Tax Foundations's corporate tax table with a combined
rate of 41.6%. Pennsylvania (41.5%), Minnesota (41.4%), Massachusetts (41.2%), Alaska (41.1%) and New Jersey (41.1%) all have a combined corporate tax rate of
more than 41%. California came in 11th with a combined rate of 40.7%.
At the other end of the table, Texas has the lowest combined corporate tax
rate at 36% (excluding those states that do not impose their own corporate tax),
followed by Alabama (37.8%) and Colorado (38%).
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| THE LOWTAX LIBRARY
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