Corporations and Taxes

As per our fearless leader, Barrack Obama, many corporations don’t pay their share of taxes. I guess he doesn’t understand all of the taxes paid, and also created by the economic activity of their presence in the US. It is kind of sad.

Let’s look at the taxes that are paid directly by these “dead-beat” corporations:

  • Property Taxes – These are paid by anyone that owns property such as land, improvements on the land, as well as furniture and equipment.
  • Licensing Fees – Company owned cars and other fees such as those paid for inspections and to pay for professional licenses for employees and officers.
  • Payroll Taxes – While most of these taxes are taken out of the employee’s pay, it is a tax that would not exist if the job didn’t exist. There are also some direct business taxes such as the company share of FICA/Social Security and unemployment taxes.
  • Sales Taxes – Yes, businesses buy things, like office supplies, furniture, and equipment and they must pay the sales taxes on those items.
  • Customs and Duties – Sometimes also know as tariffs, these taxes are paid when exporting and importing components and finished products.
  • Environmental Taxes – Also know as carbon emissions and pollution taxes.
  • Energy/Utilities Taxes – Ever notice the taxes on the power and water? Businesses pay them, too. Gas taxes? Of course, they pay those, too.
  • Tolls – Taxes paid for travel and shipping over certain roads or waterways.

Then, of course, there are all the taxes that are paid by the businesses that do business with them, like suppliers and services contractors and taxes paid by the employees that work for the company and have jobs because the company exists.

Yes, corporations pay taxes, lots of them, even in the cases where they declare income taxes in other countries and they get some tax breaks from local communities and States.

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