|International Tax Rules||28||61.7|
The United States ranks 21st overall on the 2019 International Tax Competitiveness Index, the same as in 2018.
- The U.S. provides full expensing for business investments in machinery.
- The U.S. allows for Last-In-First-Out treatment of the cost of inventory.
- Corporations can deduct property taxes when calculating taxable income.
- The U.S. has a progressive income tax with a top rate of 46 percent, including payroll and personal income taxes.
- The U.S. has a partial territorial system and does not exempt foreign capital gains income-it ranks as one of the most onerous international tax systems of any OECD nation.
- The real property tax burden is among the highest in the OECD.