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International Accounting
 

U.S. taxation: The description and impact on small businesses

Vol. 24, Iss. 2, FEBRUARY 2021

Received: 3 December 2020

Received in revised form: 3 January 2021

Accepted: 21 January 2021

Available online: 14 February 2021

Subject Heading: Tax and taxation

JEL Classification: H25, H71

Pages: 166–185

https://doi.org/10.24891/ia.24.2.166

Sergei A. FILIN Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation
Filin.SA@rea.ru

https://orcid.org/0000-0002-6054-6510

Lyubov' A. CHAIKOVSKAYA Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation
chaik4@yandex.ru

https://orcid.org/0000-0002-1292-402X

Ainura N. AITYMBETOVA М. Auezov South Kazakhstan State University (SKSU), ?ymkent, Republic of Kazakhstan
a.ainura-81@mail.ru

ORCID id: not available

El'mira E. ZHUSSIPOVA М. Auezov South Kazakhstan State University (SKSU), ?ymkent, Republic of Kazakhstan
elmira_zhusipova@mail.ru

https://orcid.org/0000-0001-7363-8214

Gul'mira K. ISAEVA М. Auezov South Kazakhstan State University (SKSU), ?ymkent, Republic of Kazakhstan
gulmira_issaeva@mail.ru

ORCID id: not available

Subject. The article discusses the development of small businesses in the USA though supporting measures.
Objectives. We suggest how small businesses should be supported and developed by analyzing the relevant practices in the USA. We also identify and analyze factors and conditions that contribute to the development of small businesses through supportive measures taken in the USA.
Methods. We use the methods of analysis, synthesis and logic research through the creative data approach.
Results. In this article we analyze the specifics of tax treatment of business and small business, first of all, in Foreign Trade Zones and in the USA as a whole. We reveal special tax regimes in the USA, referring to the business environment of SME in Russia just for the sake of comparison. Having analyzed relevant positive practices in the USA, we suggest how small businesses should be supported and developed in Russia, which is the novelty of this study.
Conclusions and Relevance. We conclude that the he apparatus the USA uses to bring its small business sector to the international market and expand its operations, helps businessmen increase their profit and sales, get more free from seasonal fluctuations and turbulence in the domestic market and receive real financial aid. Supporting the small business, the State should prioritize ensuring sufficient jobs for the people, including the creation of additional ones.

Keywords: small business, entrepreneurship, mandatory taxes, corporate income tax, property tax, sales tax

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