Oregon’s Legislative Revenue Office (LRO) released its much-anticipated report today on Initiative Petition 28 (IP28). If adopted in November, IP28 would raise the state’s minimum tax on large corporations to 2.5 percent...
- The Tax Policy Blog
- Share of U.S. Corporate Income and Taxes by Size
Share of U.S. Corporate Income and Taxes by Size
In 2010, U.S. corporations paid about $223 billion in income taxes on slightly more than $1 trillion in taxable income. However, the vast majority of this income and taxes is attributable to the roughly 2,700 corporations with assets above $2.5 billion. Indeed, these corporations earned 77 percent of total corporate taxable income in 2010 and account for 69 percent of all corporate income taxes paid in the United States. Meanwhile, mid-size companies with assets between $500 million and $2.5 billion in assets earned 11 percent of corporate income and paid 14 percent of corporate income taxes.
For more charts like the one below, see the second edition of our chart book, Putting a Face on America's Tax Returns.
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