Corporate Income Taxes

In addition to the federal corporate income tax rate, many U.S. states levy corporate income taxes of their own. Economists have long understood that corporate income taxes are double taxes, since the same income is taxed once as profit, and once as individual income when distributed as dividends to shareholders.

Contrary to popular misconception, the ultimate burden of corporate income taxes doesn’t fall on corporations, but is instead borne by workers, shareholders and consumers. According to a recent Federal Reserve study, state corporate taxes hurt entrepreneurship

State Corporate Income Tax Rates and Brackets

Corporate Tax Rates by Country

Related Articles

Testimony: Washington’s Business Tax Structure

Five States Accomplish Meaningful Tax Reform in the Wake of the Tax Cuts and Jobs Act

Should Congress Reconsider the Tax Exemption of Pro Sports Organizations?

State-by-State Job Impacts of the Tax Cuts and Jobs Act in 2018

The Economics of 1986 Tax Reform, and Why It Didn’t Create Growth

To What Extent Does Your State Rely on Corporate Income Taxes?

Business and Individual Taxpayers See No Reprieve in New Jersey Tax Package

The Distributional Impact of the Tax Cuts and Jobs Act over the Next Decade

State Tax Changes Taking Effect July 1, 2018

Reforming the Pass-Through Deduction

Three Possible Impacts of the TCJA Related to the Financial Services Sector

Stock Buybacks Don’t Hinder Investment Spending

New Jersey May Adopt Highest Corporate Tax in the Country

Seattle City Council Votes Overwhelmingly to Repeal New Business Head Tax

New Jersey Still Considering Hefty Corporate Tax Increase, a Move in the Wrong Direction

The OECD Highlights the Economic Growth Benefits of Full Expensing

Indiana Passes Conformity Bill in One-Day Special Session

Seattle’s New Business Head Tax Law is Deeply Unpopular

Governor Dayton Vetoes Minnesota’s Conformity Bill

Fee Proposal Would Discourage Companies from Hiring Lower-Income Workers