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Monday Map: State Corporate Income Tax Rates

By: Nick Kasprak

Today’s Monday Map shows the top marginal state corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable under the individual income tax. rate in each state. States with a top marginal rate higher than or equal to 9% are colored blue; states with a flat (single bracket) corporate income taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. are colored pink. States with a gross receipts taxA gross receipts tax, also known as a turnover tax, is applied to a company’s gross sales, without deductions for a firm’s business expenses, like costs of goods sold and compensation. Unlike a sales tax, a gross receipts tax is assessed on businesses and apply to business-to-business transactions in addition to final consumer purchases, leading to tax pyramiding. instead of (or in addition to) a corporate income tax are colored green, and states with no corporate income tax or gross receipts tax are colored white.

Map: Corporate Income Tax Rates

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