Tax

By [ Dave Koenig ]

The Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21%, putting the U.S. on par with other developed countries. As a result, retailers were able to make significant investments in their business, workforce, and in communities across the US, while remaining globally competitive.

There are proposals to raise the corporate tax rate to 28% as a means to fund other priorities. RILA will engage directly with the Administration, Congress and with aligned business organizations to advocate for the retention of the 21% corporate rate so retailers can continue investing in the communities in which they serve.

If Congress considers corporate tax changes, RILA strongly encourages policy makers to examine the effective tax rates of all companies and ensure any disparities are removed. For too long, some of the largest corporations in America have exploited the tax code to pay minimal or no taxes at the corporate level. Over the years, RILA members have consistently paid the highest effective corporate tax rate, and Congress must ensure that all companies pay at least a minimum tax before it considers increasing the corporate tax rate for all businesses.

Tax

Tags

Related Content

Retailers Ask IRS to Rethink Tax-Credit Rule

Tax Committee

Online Sales Tax

Latest on Tax

Retailers Blast Payroll Tax Proposal

NOL Carryback Provision Under Attack

Executive Order Defers Payment of Employee Share of Payroll

Tax Provisions Included in Senate GOP Coronavirus Bills

Retailers Welcome Bill to Promote Healthy Workplaces

Maximizing Value of Unsold Inventory

Retailers Ask IRS to Rethink Tax-Credit Rule

RILA Presses Congress on Proposals to Assist Retailers

Comprehensive Tax Reform

Tax

Border Adjustment Tax Campaign

Online Sales Tax

Stay in the know