Replace the Corporate Tax With a Market Capitalization Tax


This proposal would replace the 35 percent corporate tax on publicly traded companies with a low 20-basis point quarterly tax on the issuer on the market capitalization including both traded debt and equity. A low-yield corporate tax would remain for corporations that are not publicly traded, and for a transition period, the tax would apply to publicly traded corporations to allow tax credits. I. Current Law Section 11 of the…
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