Corporate Income Taxes

The federal corporate income tax was first instituted in 1909 when income above $5,000 was subjected to a one percent tax rate. Since then it has changed approximately 35 times, with the current top rate at 35 percent.

Additionally, many 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.


Related Articles

Romney’s New Tax Plan a Significant Improvement

February 24, 2012

More Thoughts on Obama’s Corporate Tax Plan

February 23, 2012

President Obama’s “Anti-Tax Reform” Plan

February 23, 2012

Tax Policy Podcast: Scott Hodge on Real Corporate Tax Reform

February 23, 2012

Obama Corporate Tax Plan: Lots of Pain for Little Gain

February 22, 2012

The President’s Corporate Tax Reform Plan: Rhetoric and Reality

February 22, 2012

State-Local Corporate Income Tax Collections, FY 2009

February 16, 2012

Recommendations for North Dakota’s Tax System

February 16, 2012

Michigan Implements Positive Corporate Tax Reform

February 10, 2012

Global Evidence on Taxes and Economic Growth: Payroll Taxes Have No Effect

February 8, 2012

Video: What Do U.S. Corporations Really Pay in Taxes?

February 6, 2012

“Buffett Rule” Will Boost Top Dividend Rate to Over 62%, Highest in OECD

January 27, 2012

South Carolina Governor Calls for Reducing Individual and Corporate Taxes

January 26, 2012

State Business Tax Climate Index Rankings, 2011-2012

January 25, 2012

Major Components of the State Business Tax Climate Index, FY 2012

January 25, 2012

Map: State Business Tax Climate Index, 2012

January 25, 2012

Insourcing: Newspeak for Protectionism

January 12, 2012

Canada Cuts Corporate Tax Rate to 15%, Lowest Overall Rate in G-7

January 4, 2012

How to Judge a Tax Plan

December 15, 2011

Fact Checking the Fact Checkers: Missing the Point on Tax Compliance

December 14, 2011