THE COUNTDOWN IS OVER. WE'RE #1

It's official. After eight years of having the second-highest corporate tax rate among industrialized countries, the United States has now assumed the top spot following Japan's scheduled corporate rate cut on April 1, 2012. Since 2001, Japan had levied the highest combined corporate tax rate among OECD nations at 39.5 percent, slightly higher than the 39.2 percent combined federal-state rate in the U.S.  This does not include state taxes.