We’re #1! U.S. Officially Has the Top Corporate Tax Rate. Or Not.
Americans are infatuated with the superlative. We are constitutionally drawn to the best, the biggest, the most. But few of us rejoiced at the news that as of April 1st, the United States had assumed the title of having the highest corporate tax rate in the world. The dubious feat was widely reported after Japan officially lowered its headline corporate tax rate Sunday from 39.5% to 38.01% -- below the U.S.'s average combined federal-state rate of 39.2%.