a variety of factors can affect publicly traded companies and their decision-making processes diddley. for instance, the high u.s. corporate rate is an important factor for companies that use either gaap or international accounting standards. if the rate is too high, companies will come all the factors being able, allocate capital to a location that provides more favorable tax treatment. today, the current top federal corporate income tax rate in the united states is 35%. the average combined federal state corporate income tax rate is 39.1%. second only to japan's 39.5% rate. however, in fear of 60 days affected april 1, 2012, japan will lower its combined corporate rate to 38%. that will lead the united states with the highest corporate tax rate in the entire industrialized world. this dubious distinction will make it that much more challenging to attract businesses to hire invest here at home where we need jobs. however, not all employers have the same tax profile. the impact of federal tax policy on certain key book calculations can diverge genetically from the impact of the same p