Burger King is yet another major corporation that has bought a one-way ticket to less taxes and more profit. Why? Well, because the United States is expensive to do business in.
The Fortune 100 company is merging with Canada-based donut shop Tim Hortons, and will move its headquarters up north with their new partner–who has a much lower tax bill.
The United States has the highest corporate income tax rate in the world at a whopping 40 percent. Canada, on the other hand, is around 26.3 percent. When you are running a soon-to-be $23 billion company, that 13.7 percent isn’t exactly an item on the dollar menu.
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