Corporations currently pay a much lower percentage of their income to tax revenues in comparison with individual taxpayers.

Question

Quizplus · Accepted Answer

According to a report by the Institute on Taxation and Economic Policy, the average effective tax rate for large, profitable corporations is around 21%, while individuals in the top 1% income bracket pay an average effective tax rate of 24%. Therefore, corporations do pay a lower percentage of their income to tax revenues in comparison with individual taxpayers.

Corporations Currently Pay a Much Lower Percentage of Their Income