Quote:
Originally Posted by mrkajz44
Anyway...a bit back on the original topic.
Yes, it looks like the only reason BK is doing this is for the tax benefits. US corporate tax rates are insane. You are looking at 34-35% federally, and then adding 6-10% for state tax (depending what states of course). Some companies stare a 45% corporate tax in the face and then there is public outcry when the companies try to lower their tax bill.
Whenever I hear people arguing that the Canadian corporate tax rate should be increased to "increase revenues", I always think of the US and their insanely high corporate tax rates. That is why you have lower corporate tax rates - to attract business in Canada.
Sorry - a bit of a tax rant.
tl;dr - BK is likely making this move solely for tax purposes becuase the US corporate rate is massive.
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Is the solution to eliminate corporate taxes all together along with the dividend and capital gains tax breaks then replace it with a consumption tax?