United States vs New Zealand

Federal corporate income tax: 21%. State CIT generally ranges from 1% to 10% (although some states do not impose CIT) and is deductible for federal CIT purposes.

28

April 15 for calendar-year corporations (15th day of the 4th month after the tax year-end); a 6-month filing extension to October 15 is available. State income tax returns usually follow the federal due date, with a few exceptions.

July 7th (Settlement day from October 1st to March 31st). For balance days between April 1st and September 30th, the due date is the 7th day of the fourth month after the balance day. The application date for taxpayers associated with tax agents is extended to March 31st of the following year, regardless of the balance date.

Tax must be fully paid by the original due date of the return (April 15 for calendar-year corporations); the final estimated instalment is due on the 15th day of the 12th month of the tax year.

February 7th (balance settlement date from March 31st to September 30th). For other balance sheet dates, the year-end tax is usually due on the 7th day of the 11th month after the balance sheet date. The final tax filing deadline for taxpayers in contact with tax agents is extended by two months.

Four equal instalments of estimated tax, due by the 15th day of the 4th, 6th, 9th and 12th months of the tax year (April 15, June 15, September 15 and December 15 for calendar-year corporations).

According to the standard method, provisional duty is generally paid in three installments: (i) on the 28th day of the seventh month before the balance day. (ii) on the 28th day of the third month before the settlement day. (iii) on the 28th day of the month after the settlement day.

0/0/0

33/28/0

30/30/30

30/15/15

NA

15

21% (aligned with the federal CIT rate for corporations)

New Zealand does not have a comprehensive capital gains tax. However, with certain exceptions, capital gains earned by companies are typically taxed as dividends when distributed to shareholders.

22.69

26.97%

7.03

29.39%