If you were a corporation…

Would you prefer to set up your business in Wisconsin, Illinois, South Dakota or across the border in Canada (I’d say Mexico but lets just keep things here in the North!)?

Well?

The Tax Foundation took a look at the top corporate tax rates here in the US and abroad and found that Wisconsin’s top corporate tax rate is 40.1% (when combined with the top Federal Rate: 35% + 7.9%), Illinois’s rate is 39.7% (35% + 7.3%), South Dakota has no State corporate tax so the rate there is the Federal rate of 35%, and Canada (assuming you place your company in the province with the highest local rate) is 33.5% (Federal rate of 19.5% + 14%)!! (detail)

So while both Dems and Reps bitch and moan about jobs going over seas isn’t it amazing that they are doing nothing to lower the top Federal tax rate on corporations!!!

For more information on this check out the Tax Foundations CompeteUSA Project, there you will find useful information on the tax rates around the world and how they are impacting the consumer. For instance, did you know that in 2005 the average household paid nearly $2,757 more for goods due to corporate taxes? Want to see how well you understand the Corporate Taxes? Take their quiz here.

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