Category: The Forum

Should the Corporate Income Tax be Repealed?

By Martin F. Grace Georgia, like most of her sister states, has a corporate income tax. The corporate income tax was first introduced in Georgia in 1929. The rate has always been a flat proportional rate, fluctuating up and down during the years within the range of 4 percent and 7.5 percent. The present rate of 6 percent has not changed since 1969. The corporate franchise tax, levied on net worth, is administered in conjunction with the corporate income tax. In 1997, these two taxes constituted approximately 6.91 percent of the state‚Äôs tax revenues. However, this percentage fluctuates from year to year and has decreased over the past number of years. In 1997, corporations paid $729.5 million in these two… View Article

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Arthur Brooks, President, American Enterprise Institute (2015) more quotes