As a result, such companies pay little or no corporate tax.
Beginning in 2007, the rate of corporate tax is 25%.
Including a higher corporate tax, costs would rise by a total of 7 percent.
How hard would it be to reform the corporate tax?
In 1989, a corporate tax of 34 percent would be due, or $340,000.
The changes are expected to reduce corporate taxes by about 20 percent over all.
Texas is one of three states without corporate or personal income taxes.
I believe the individual and corporate tax rates ought to be increased.
At the same time, other corporate taxes could be reduced.
The new rules for a federal corporate tax would take effect at midnight.