Msg. 04603 of 47202 (This msg. is a reply to
04601 by
Zimbler0)
Jump:
Zimbler:
re: " Oh, and did we mention that the state has no personal income tax? ... so moving to Tennessee, where the tax rate is zero, will save the company millions of dollars on taxes a year."
Not to nitpick, but the corporate tax rate and the personal tax rate are not the same thing.
California's income tax rate on C-corporations is a flat 8.84%, which is the 8th highest nationally. Tennessee's excise tax, which is effectively a corporate income tax, is 6.5% - which is 26th nationally. So, although Tennessee's taxes are friendlier to corporations, they're a far cry from "zero," and not THAT much better than California.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
States: To hear Hillary Clinton and Bernie Sanders, you’d think that taxes can go up to 60% or even 80%, and businesses and investors will just … pay up. But the growing number of businesses stampeding out of high tax areas suggest that they’re very wrong.
We got more evidence of that this week when CKE Restaurants, the corporate parent of Hardee’s and Carl’s Jr. restaurants, announced that they are relocating to Nashville, Tennessee.
Hardee’s will move its headquarters from St. Louis, Missouri, to Nashville, Tennessee, one of America’s fastest growing states.
Oh, and did we mention that the state has no personal income tax?
Meanwhile, the Carl’s Jr. move puts more egg on the face of California and the political class in Sacramento. Hamburger fast food chain Carl’s Jr. was founded in California and for years has been headquartered in Carpinteria, California. The highest income tax rate in California is 13%, so moving to Tennessee, where the tax rate is zero, will save the company millions of dollars on taxes a year.
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