(EMAILWIRE.COM, August 17, 2013 ) Benbrook, TX -- Two of the most common types of small businesses pay a percentage of their income to the government almost double that of large corporations when tax credits and deductions are included.
Those small businesses are most likely to sponsor local little league teams or events for local tragedies. The result is an average corporate tax rate of just 12.6 percent, according to the Government Accountability Office, which is compared to 31.6 percent and 29.4 percent that S corps. and partnerships pay.
The findings from the study come as many Americans are criticizing the largest corporations for legally finding ways to avoid paying their fair share in taxes. Many large companies, such as Apple, Amazon, and Google all wind up paying less than the top Federal tax rate of 35 percent, where the rest of Americas small business, make up the rest. In fact, some companies, such as General Electric, have been getting by with paying negative tax rates, which means that they actually gain money from paying taxes.
President Obama has called to reform the corporate tax code to force big corporations make up the difference and reduce the burdens on small businesses.
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Tenet Financial Group (http://tenetfinancialgroup.com/) is a third party administration company with over 5 years of experience in self-directed 401(K) plan design, installation and administration. Tenet Financial Group also offers plan sponsors and the most knowledgeable retirement plan administration staff in the industry. For more information, visit the website.
Customer Service
(888) 901-3335
info@tenentfinancialgroup.com
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Those small businesses are most likely to sponsor local little league teams or events for local tragedies. The result is an average corporate tax rate of just 12.6 percent, according to the Government Accountability Office, which is compared to 31.6 percent and 29.4 percent that S corps. and partnerships pay.
The findings from the study come as many Americans are criticizing the largest corporations for legally finding ways to avoid paying their fair share in taxes. Many large companies, such as Apple, Amazon, and Google all wind up paying less than the top Federal tax rate of 35 percent, where the rest of Americas small business, make up the rest. In fact, some companies, such as General Electric, have been getting by with paying negative tax rates, which means that they actually gain money from paying taxes.
President Obama has called to reform the corporate tax code to force big corporations make up the difference and reduce the burdens on small businesses.
About TenetFinancialGroup.com
Tenet Financial Group (http://tenetfinancialgroup.com/) is a third party administration company with over 5 years of experience in self-directed 401(K) plan design, installation and administration. Tenet Financial Group also offers plan sponsors and the most knowledgeable retirement plan administration staff in the industry. For more information, visit the website.
Customer Service
(888) 901-3335
info@tenentfinancialgroup.com
Source: EmailWire.Com