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Form NYC 245 "Activities Report of Business and General

Form NYC 245 "Activities Report of Business and General

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Instructions and help about 2020 dof nyc 245

if you don't think your tax system is rigged in favor of big corporations think again in 2017 the Trump tax law slashed the federal corporate income tax rate from 35% down to 21% and in the 5 years after it took effect hundreds of profitable corporations didn't pay anywhere close to that rate the latest study shows 342 corporations paid an average of just 14.1% over those 5 years almost a third less than the actual rate 109 companies paid zero taxes on at least one of those 5 years and 23 paid no taxes at all across the whole time so chances are you paid more taxes than these companies this is a result of Congress allowing corporate tax avoidance to happen through special breaks and loopholes the Trump tax law ignored these issues and in some cases even introduce them now President Biden's corporate minimum tax is a step towards solving this issue but more work needs to be done regardless the system today sends billions of dollars to corporate shareholders that

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