Income tax in the USA is one of the highest in the world.
Table of the dynamics of changes in income tax in the United States
It's expensive to do business here, therefore, many manufacturers are moving production outside the USA. A country with a powerful economy, America can afford the status of the most demanding country in terms of tax collection.
- Despite the fact that taxation is systematized, almost all authorities can set their own fees. However, there are special nuances;
- So, eg, partnership will not be subject to corporate tax: each of the partners will file a declaration only for their own income;
- The company can be exempted from tax collection in the event, if he does not have a checking account in America, and also if the company does not operate in the USA;
- States, tax-exempt, can greatly simplify the task. However, one should consider, that federal fees remain the same.
At the same time, American companies are required to pay taxes even on those funds, earned abroad.
In order to eliminate the option of double payment of fees, US tax structure uses credit tax methodology. It means, what if the company, which operates abroad, experienced any tax costs there, then they can be reimbursed. Of course, only at the top of America's tax rate.
Difference between partnerships (the closest Russian synonym is partnership) and a corporation from the point of view of the tax service is very simple.
And each partner is calculated on tax charges independently. But with a corporation, things are different.: there is a tax on the profit of the corporate plan, and in the same way, company owners will pay their own income tax. This also applies to shareholders.