379 large, profitable U.S. companies in 2018 paid an effective tax rate of 11.3%, the first year the Tax Cuts and Jobs Act was in force, a new study finds.
That's slightly more than half of the nominal corporate tax rate of 21%, which itself was reduced by the TCJA from a previous rate of 35%.
Last year's corporate tax cuts have boosted stock buybacks but has done little to raise wages for workers, another study finds.
Submitted December 17, 2019 at 07:04PM by coolcomfort123 https://ift.tt/38P97MF
