Treasury Department: Construction industry shoulders top tax rate
- Published: Wednesday, 20 April 2016 12:02
- Written by Concrete News
Source: Associated Builders & Contractors, Washington, D.C.
A U.S. Department of the Treasury analysis confirms that a typical construction company faces an average effective federal tax burden of 30.3 percent against the 23.3 percent average for all U.S. businesses. The industry likewise pays the highest effective tax rate—the percent of income businesses actually pay in taxes—of any sector of the economy.