In his new budget, President Biden raises the current 21% federal corporate income tax rate to 28%, higher than Communist China’s 25%. After adding state corporate income taxes, the combined federal-state rate under Biden amounts to about 32%.
In his new budget, President Biden raises the current 21% federal corporate income tax rate to 28%, higher than Communist China’s 25%. After adding state corporate income taxes, the combined federal-state rate under Biden amounts to about 32%.