US Corporation Tax
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Latest reports have confirmed that legislators in America have decided to impose US corporation tax at rate of 90 percent. This corporation tax of US would be levied on bonuses that have been provided by companies that were provided financial assistance from taxes paid by common people of US.
Latest reports have confirmed that legislators in America have decided to impose US corporation tax at rate of 90 percent. This corporation tax of US would be levied on bonuses that have been provided by companies that were provided financial assistance from taxes paid by common people of US.
Nanci Pelosi, speaker of House of Representatives in US parliament has said that this corporation tax in US is being imposed as national government wants its money back. This move to levy a substantial amount of corporation tax at US is a direct follow up of decision of AIG to provide its senior workers with bonuses worth $165 million.
Nanci Pelosi has also reiterated that money accrued from this USA corporation tax would be used for benefit of tax payers who paid this money at first place. Companies that have received financial aid in region of $5 billion from money collected from taxes would be subjected to this new US corporation tax.
This US corporation tax would be imposed on bonuses that have been provided by these companies to employees who earn more than $250,000. Latest news regarding US corporation tax has revealed that AIG has gone to court against Internal Revenue Service and United States of America. It has laid claim to $306 million in form of return of payments of taxes.
In this case AIG would be employing financial assistance it received from money of tax payers in USA to finance this particular lawsuit. Apparently AIG has been demanding this money for taxes it has paid to companies that have been created in countries where tax benefits are provided such as Bermuda and Panama for example. These are being scrutinized even more now by Internal Revenue Services.
These reports on US corporation tax have also confirmed that Internal Revenue Service opines that these companies are misappropriating US tax laws, as mentioned in Section 901, that allow tax payers in US to claim returns for taxes paid to another country or US dependency. Another news on US corporation tax reports that Irish premier Brian Cowen met US President Barack Obama regarding a review of Irish corporation tax structure and is hopeful that results would be positive.
