The just-passed “fiscal cliff” deal offers a mixed bag for American business owners, as The Washington Post reports. A package of temporary business tax breaks were extended for another year, but business owners who have pass-through income above $400,000 will see a tax rate increase.
As Americans attempt to decipher how the deal would affect their taxes, they can take heart in knowing that top tax rate for corporations in Uzbekistan — to name just one example — is near 98.5 percent.
A new report from the World Bank and PricewaterhouseCoopers offers a revealing look at trends in tax rates around the world.