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

The Impact of a Higher Corporate Tax Rate to Fund Eliminating the SALT Deduction Cap

Upcoming Corporate Tax Rate Reductions in Developed Countries

Testimony: The Positive Economic Growth Effects of the Tax Cuts and Jobs Act

How Much Does Your State Collect in Corporate Income Taxes Per Capita?

Permanence for 100 Percent Bonus Depreciation Provides More Cost-Effective Growth than Permanence for Individual Provisions

The TCJA’s Expensing Provision Alleviates the Tax Code’s Bias Against Certain Investments

Sanders’ New Plan Would Hurt, Not Help, Low-Skill Workers

Proposed Corporate Rate Hike Would Damage Economic Output

Prioritizing Tax Reform in Arkansas

Responding to the NYT’s Stock Buybacks Analysis

The “Missing Profits of Nations” Mistakes Tax Competition for Tax Evasion

Lowering the Corporate Income Tax Rate Benefits Old and New Capital

The Benefits of Cutting the Corporate Income Tax Rate

What the Main Criticisms of Stock Buybacks Get Wrong

Online Sales Tax Revenue Presents Opportunity for Permanent, Comprehensive Reform in Wisconsin

Does Your State Levy a Capital Stock Tax?

Enhancing Tax Competitiveness in Connecticut

Decomposing a Dynamic Revenue Estimate

Bureau of Economic Analysis Releases Q2 2018 GDP Estimate

Testimony: Washington’s Business Tax Structure