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To: cpdiii
If Boeing sells an airliner for 100 million dollars and it"s taxes are 35% on the sale the cost is now 135 million dollars.

The corporate income tax is levied on profits, not on sales.

Let's say the pre-tax profit on that $100 million airliner was 10% -- $10 million. The associated corporate income tax would then be $3.5 million (not $35 million).

27 posted on 10/19/2016 10:05:12 PM PDT by okie01
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To: okie01
You are correct. However our tax rate on corporation profits are about 35%. Boeing does not pay it, we do.

When I used the figure of 100 million it should have been addressed as profit not sale price.

However our insane taxes on corporations put our companies at a great disadvantage in international marketing.

PS
Several millionaires have given me jobs. A poor man never gave me a job.

36 posted on 10/19/2016 10:18:24 PM PDT by cpdiii (DECKHAND ROUGHNECK MUDMAN GEOLOGIST PILOT PHARMACIST LIBERTARIAN , CONSTITUTION IS WORTH DYING FOR!)
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