U.S. proposes to reduce top corporate tax rate: report
(Reuters) – The Obama administration will propose slashing the top income tax rate for corporations to 28 percent from the current 35 percent, as part of a corporate tax reform plan that is set to be announced on Wednesday, the Wall Street Journal said. The new tax proposal would also aim to raise overall tax revenue by eliminating dozens of popular deductions in an effort to restructure the corporate tax code, the Journal said. The new tax proposal would lower the “effective” tax rate on manufacturers to “no more than 25 percent,” a senior administration official told the newspaper. …
Source: http://news.yahoo.com/u-proposes-reduce-top-corporate-tax-rate-report-063329175.html
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