2009 State Corporate Income Tax Rates
January 13, 2009
The State Corporate Income Tax Rates table has been updated for 2009. States have largely avoided major changes in their corporate tax structures this year. Some of the changes for 2009:
- Kansas lowered its top tax from 7.35% to 7.1% on taxable income over $50,000.
- Nebraska doubled the income level, from $50,000 to $100,000, at which its top tax rate of 7.81% kicks in.
- Ohio will complete the phase-in of its new Commercial Activities Tax (CAT) in April, 2009. The CAT is a tax on gross receipts and will equal 0.26% when fully phased in. Ohio’s current Corporate Franchise Tax is being phased out simultaneously, and will be fully phased out in 2010.