Tag: corporate tax

President Biden Visits Virginia for ‘Getting America Back on Track’ Tour

Eric Burk
Joe Biden at elementary school

President Biden and First Lady Dr. Jill Biden visited eastern Virginia Monday for the “Getting America Back On Track” tour. The President stopped at Yorktown Elementary School in Newport News, and gave a pitch at Tidewater Community College for his $1.8 trillion American Families Plan (AFP). He said expanding education for every American is critical to keep the U.S. competitive internationally, and called for tax increases on corporations and the wealthy to fund the plan.

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In Debate, GOP Gubernatorial Candidates Discuss Amazon and Small Business

Eric Burk

Six of the seven GOP gubernatorial candidates met for a debate hosted by the Virginia Federation of Republican Women on Tuesday evening. Candidates answered questions about Dominion voting machines, Second Amendment rights, transportation, and funding law enforcement. Organizers said Pete Snyder had a prior engagement.

Larry O’Connor asked the candidates, “Amazon is king right now in northern Virginia if you didn’t know any better. How will we expect small businesses to survive when government regulations that make it difficult for them are thrown out the window for literally the richest man in the world? How do you plan to protect key real estate in northern Virginia from being swallowed up by one company as well?”

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Minnesota Firms Would Pay a Combined Corporate Tax Rate of 35.1 Percent Under Biden Plan

The Center Square
Joe Biden

The combined state and federal corporate tax rate in Minnesota would reach 35.1 percent under President Joe Biden’s infrastructure plan, representing a tie for the third highest levy among the 50 states, according to a new study from the Tax Foundation.

U.S. corporations currently pay a 21 percent corporate income tax rate to the federal government, the Tax Foundation reported, but they also pay additional corporate taxes in 44 states and Washington, D.C. State corporate income tax rates range from zero to 11.5 percent, so the current combined average paid by corporations is 25.8 percent, the study said.

Corporations based in six states – Ohio, Nevada, South Dakota, Texas, Washington and Wyoming – are charged no state income tax, though they have to pay their share to the federal government, the Tax Foundation said.

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