Including others for comparison from Wikipedia (http://en.wikipedia.org/wiki/Corporate_tax), interesting to note that Vancouver, Canada, small business is taxed 13.5%, and to no surprise, there are many startups in Vancouver:
Examples of corporate tax rates for a few English-speaking countries include:
Australia: 30%, however some specialized entities are taxed at lower rates.
Canada: Federal 11% or 18% plus provincial 1% to 16%. Note: the rates are additive.
Hong Kong: 16.5%
Ireland: 12.5% on trading (business) income, and 25% on nontrading income.
New Zealand: 30%
Singapore: 17% from 2010, however a partial exemption scheme may apply to new companies.
United Kingdom: 21% to 28% for 2008–2010.
United States: Federal 15% to 35%.[18] States: 0% to 10%, deductible in computing Federal taxable income. Some cities: up to 9%, deductible in computing Federal taxable income. The Federal Alternative Minimum Tax of 20% is imposed on regular taxable income with adjustments.
For Australia, you have to take franked dividends into account.
When profits flow onto shareholders, the shareholders receive tax credits for tax that the company has paid on its profits. The result is often that, by the time corporate profits end up in the shareholder's pocket, there is 0% effective corporate tax over and above personal income tax paid on the dividend.
EDIT: That's for profits. Companies still have to deal with state payroll tax, collection of sales taxes, etc.
Examples of corporate tax rates for a few English-speaking countries include:
Australia: 30%, however some specialized entities are taxed at lower rates.
Canada: Federal 11% or 18% plus provincial 1% to 16%. Note: the rates are additive.
Hong Kong: 16.5%
Ireland: 12.5% on trading (business) income, and 25% on nontrading income.
New Zealand: 30%
Singapore: 17% from 2010, however a partial exemption scheme may apply to new companies.
United Kingdom: 21% to 28% for 2008–2010.
United States: Federal 15% to 35%.[18] States: 0% to 10%, deductible in computing Federal taxable income. Some cities: up to 9%, deductible in computing Federal taxable income. The Federal Alternative Minimum Tax of 20% is imposed on regular taxable income with adjustments.