Skip to comments.Businesses continue to face excessive taxation
Posted on 09/30/2013 3:19:31 PM PDT by ThethoughtsofGreg
The Council on State Taxation (COST) recently released its 11th annual report on business taxation, revealing that businesses paid a total of $649 billion in state and local taxes in fiscal year 2012an increase of 3.9 percent from fiscal year 2011. Total state business taxes increased by 5.8 percent from fiscal year 2011, while local business taxes grew by 1.7 percent. As a share of total state and local tax revenues, business taxes remained relatively unchanged from fiscal year 2011 at 45.2 percent of revenues.
As studies by COST have highlighted in the past, most would expect corporate income taxes to account for the largest tax burden on businesses. Despite this perception, corporate income taxes made up just 7.6 percent of taxes on business in fiscal year 2012. Total revenues from the corporate income tax also remained relatively flat, despite rate increases in some states, such as Connecticut and Illinois. Taxes on business property accounted for 35.3 percent, the largest portion, while general sales taxes on business inputs accounted for 21.2 percent, the second largest portion.
(Excerpt) Read more at americanlegislator.org ...
Most leftists have never owned a business. In their distorted world view, businesses exploit and should be in the hands of the state, which would then manage them well. (what a joke)
You can say that again. They talk all day about “creating jobs” but have never actually done so. Ever.