I Will Ask Again, Why Are We Taxing Corporate Income?

I Will Ask Again, Why Are We Taxing Corporate Income?

I have been opining, preaching really, for years on why we should repeal the state corporate income tax. As I noted before, any corporation with a breathing accountant can avoid all or most state corporate income taxes...

The tax does not raise a lot of revenue, a mere $36 billion (out of $1 trillion of state revenue) in 2010. But it consumes an inordinate amount of resources. So we cannot say we impose the tax to raise revenue... [A]n increasingly influential school of thought that says the tax is borne by labor in the form of lower wages. If that is true, the tax can hardly be said to increase progressivity...

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View TaxAnalysts'® David Brunori's opinion in its entirety on TAX.com.

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