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https://www.gao.gov/products/gao-16-363
https://www.gao.gov/products/gao-13-520
Proponents of lowering the U.S. corporate income tax rate commonly point to evidence that the U.S. statutory corporate tax rate of 35 percent, as well as its average effective tax rate, which equals the amount of income tax corporations pay divided by their pretax income, are high relative to other countries.
https://www.gao.gov/pdf/product/103704
billion corporate tax gap to small and large corporations. IRS defines large corporations as those with assets of $10 million or more; they account for $24 billion, or 76 percent of the ' corporate tax gap. Small corporations --those with assets below $10 million-- make up $7 billion, or 23 percent.
https://theaccountingjournal.com/usa/usa-corporate-tax/
It was one reason that U.S. corporations paid lower taxes, despite the fact that the USA corporate tax rate was 35 percent. However, the USA corporate tax rate has been flattened to 21% since January 1, 2018. American companies can defer capital costs to increase their capital cost relative to foreign-based counterparts.
Gene L. Dodaro is the eighth Comptroller General of the United States and head of GAO. As Comptroller General, Mr. Dodaro leads GAO and helps oversee the hundreds of reports and testimonies that GAO provides each year to various committees and individual Members of Congress. The U.S. Comptroller General is appointed to a 15-year term.
https://www.gao.gov/pdf/product/new-items-d08957
United States Government Accountability Office GAO TAX ADMINISTRATION Comparison of the Reported Tax Liabilities of Foreign- and U.S.-Controlled Corporations, ... (SOI) samples of corporate tax returns for tax years 1998 through 2005. These SOI samples were based on returns as filed, and did not reflect IRS audit results or any net operating ...
https://www.bookkeeping-essentials.com/corporate-tax-journal-entries.html
Your entry is between your payable/receivable and bank accounts so you clear your outstanding payable/receivable: Dr. Cash in Bank. Cr. Corporate Income Tax Payable (Refund) Cr. Interest Income. With regards your year-end adjusting journal entries (AJE), one of the entries should be to record a tax provision for 2011.
https://www.forbes.com/sites/janetnovack/2013/07/01/gao-big-companies-paid-a-12-6-federal-income-tax-rate/
Despite all their griping about the U.S.’s highest-in-the-developed-world 35% federal corporate income tax rate, big profitable U.S. companies paid just 12.6% of their reported worldwide profits in...
https://www1.nyc.gov/site/finance/taxes/business-general-corporation-tax-gct.page
General Corporation Tax (GCT) Effective for tax years beginning on or after January 1, 2015, the general corporation tax (GCT) only applies to subchapter S corporations and qualified subchapter S subsidiaries under the U.S. Internal Revenue Code. These corporations will continue to file GCT tax returns in tax years beginning on or after January 1, 2015, if they are otherwise taxable …
https://interactive.marylandtaxes.gov/extranet/gad/GADLogin/User/AppSelect.asp
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