"Companies pay heavy Corporate taxes? Do they really?"

Even in the USA it is the mis-conception, like in India,  that Companies pay very heavy Corporate taxes. Many would make you believe that companies are carrying a ball and chain of a tax burden that's holding them back.

And the official tax rate of 35% of corporate income in US is among the highest in the developed world. Even the percentage of income companies effectively paid in taxes — nearly 28% between 2006 and 2008 — is high compared with other countries.

But lately that's been far from reality. Here are the official figures:

Year	U.S. corporate profits ($billions)	Federal taxes on corporate income ($ billions)	Corporate income taxes as % of profit
2006	1,615.7	474.9	29.4
2007	1,510.6	445.5	29.5
2008	1,248.4	309.1	24.8
2009	1,362.2	272.4	20.0
2010	1,8--.1	411.1	22.8

Source: U.S. Department of Commerce

From a healthy $475 billion in 2006 (29% of profits), revenues from corporate income taxes plummeted to a rock-bottom low $272.4 billion in 2009, a mere 20% of total profits.

So, how do you like the figures? Did you get the answer to whether "Companies pay heavy Corporate taxes? Do they really?"

San Josh FCA IRS