Obvious_Chapter2082 t1_j7f32c3 wrote
Reply to comment by no_buses in [OC] How Google makes money (its 2022 income statement visualized as a Sankey diagram) by IncomeStatementGuy
That’s…not true
Corporate tax is also referred to as “corporate income tax”, because it’s a tax on their income. On the income statement, this is labeled as income tax expense
Registering in Delaware doesn’t mean you don’t pay state tax, as your income gets apportioned to every state that you operate it. Registering in Delaware is for legal reasons, not tax reasons
And you also can’t really compare individual and corporate tax rates. A rate for a corporation is based on their income tax expense instead of the tax they actually pay
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