Corporate tax is levied on the income or capital of corporations or analogous entities with rates varying hugely between countries. Many countries impose it at the national level, though similar taxes are also imposed at state or local level. Based on the weighted average of state rates, the United States has a corporate tax level of 35 percent, considerably higher than most other developed nations around the globe.
According to the OECD, Ireland has one of the lowest corporate tax rates worldwide at just 12.5 percent. That rate has seen a plethora of technology companies (including Google and Facebook) and major multinationals establish themselves on the Emerald Isle.
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