Running Head: ADVANCED TAXATION ADVANCED TAXATION 3 3 ADVANCED TAXATION Name of the Student Name of the University Author Note: Introduction The taxation of United States imposed a 21% corporate tax on the profits reducing it from the 35% of 2017 Tax Cuts and Jobs Act. However, according to the news report, the operating system of the U.S Corporation face other level of income tax imposed by the states. Moving to the impact of Tax Cuts and Jobs Act, the rate of corporate tax in the