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Nortel's patent pile soldNortel's patent pile soldPosted Jul 2, 2011 10:05 UTC (Sat) by elanthis (guest, #6227)In reply to: Nortel's patent pile sold by pboddie Parent article: Nortel's patent pile sold
IANAA (not an accountant), but i believe business taxes are a huge source of tax income. The vast majority of taxable income the working man makes has already been taxed for the business... At a higher tax rate.
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Business taxes Posted Jul 2, 2011 14:05 UTC (Sat) by corbet (editor, #1) [Link] I'm not an accountant either, but I am a business owner. The "working man" gets a salary which comes from pre-tax money for the business; salaries are expenses, after all. You may be thinking of dividends, which are paid from post-tax money, but few companies pay dividends anymore.Things vary a lot, but, in the US, companies are very good at paying little or no taxes.
Business taxes Posted Jul 2, 2011 16:24 UTC (Sat) by pboddie (subscriber, #50784) [Link]
I don't know the figures, but I wouldn't be so certain that few (public) companies pay dividends, at least not on a global level. I know of some highly profitable European companies paying a dividend twice a year.
That said, not paying a dividend might be another thing those six companies have in common. Certainly, Apple, like Microsoft before them, has been criticised for not paying a dividend.
Business taxes Posted Jul 3, 2011 20:12 UTC (Sun) by elanthis (guest, #6227) [Link]
You're definitely right. I only pay independent contractors and not regular employees, so I wasn't sure how it worked out in the "usual" case. My mistake for assuming.
I did find this chart:
http://www.taxpolicycenter.org/briefing-book/background/n...
It seems to be that basic corporate taxes plus payroll taxes do ever so slightly outweigh individual income tax. I'm not sure what "payroll taxes" are though. I think those are the "withheld from your check" taxes, but could be wrong. So I'm still not sure if that's really something to consider as a corporate tax or a personal tax.
Business taxes Posted Jul 5, 2011 11:24 UTC (Tue) by Wol (guest, #4433) [Link]
No. I think you'll find payroll taxes are taxes on the employer based on what they pay employees.
For example, we have National Insurance, which is deducted from the employee's pay cheque at about 10%. However, the employer has to pay a further 12% or so on top.
Cheers,
Nortel's patent pile sold Posted Jul 2, 2011 22:41 UTC (Sat) by ccurtis (guest, #49713) [Link] One of the most annoying things to me recently were all the people who've never heard of a 1096 or K-1 complaining that raising tax rates on income over $250,000 was going to kill small businesses - apparently defined as those incorporated with subchapter S elections. The two easiest ways for these "individuals" to avoid the higher tax rates would be to (a) hire someone, or (b) perform capital expenditures (ie: buy stuff, which is somehow ~70% GDP). But all that aside, in case you have access to the Internet, you can click here to find out where the feds get their income: [Tax Policy Center]. If you prefer numbers in the raw (and more up to date) the IRS publishes the data directly as well: [IRS Tax Stats] But if you don't have Internet access, as to the "huge source" of income, that's all relative I suppose. But in broad strokes corporations provide about 12% of revenues, and individuals provide another 45-81% (depending on who you want to say pays for things like medicare and social security).
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