U.S. Lags While Competitors Accelerate Corporate Income Tax Reform V. 1

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1 Scott A. Hodge & Andre Dammert, U.S. Lags While Competitors Accelerate Corporate Income Tax Reform 1 (2009)

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August 2009
No. 184
U.S. Lags while Competitors Accelerate Corporate
Income Tax Reform
by Scott A. Hodge and Andre Dammert
Fiscal Fact No. 184
New data from the Organization for Economic Cooperation and Development (OECD) shows that the
U.S. corporate tax rate has fallen even further out of step with the rest of the industrialized world as
countries such as Canada, the Czech Republic, Korea, and Sweden have cut their corporate rates in
2009, lowering the average statutory corporate tax rate of all OECD nations to 26.5 percent.
With a combined federal and state corporate tax rate of 39.1 percent, the U.S. continues to impose the
second-highest overall corporate rate among industrialized countries. Only Japan's 39.5 percent
combined rate is higher. As the chart below indicates, the weighted average (accounting for country
size) corporate rate of non-U.S. OECD nations is now below 30 percent for the first time in history.
2009 marks the 12th consecutive year in which the average corporate tax rate of non-U.S. OECD
nations has been below the U.S. rate.
Figure 1
U.S. Corporate Tax Rate Remains Far Above Non-U.S. OECD Average
U S Corpo rate Rate Remains Far Above OECD Ave rage
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