Center for Federal Tax Policy

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

U.S. Effective Corporate Tax Rate Is Right in Line With Its OECD Peers

April 2, 2021

Combined Corporate Rates Would Exceed 30 Percent in Most States Under Biden’s Tax Plan

April 1, 2021

President Biden’s Infrastructure Plan Raises Taxes on U.S. Production

March 31, 2021

CBO Study: Benefits of Biden’s $2 Trillion Infrastructure Plan Won’t Outweigh $2 Trillion Tax Hike

March 31, 2021

A CEO Tax Is the Wrong Way to Help Workers

March 30, 2021

Wyden’s Energy Tax Proposal a Mixed Bag

March 11, 2021

Phasing in a Corporate Rate Hike Would Be the Worst of Both Worlds

March 9, 2021

Combined State and Federal Corporate Income Tax Rates in 2021

March 3, 2021

Evaluating Proposals to Increase the Corporate Tax Rate and Levy a Minimum Tax on Corporate Book Income

February 24, 2021

Changes to the Tax Base Matter When Evaluating the Impact of Tax Reforms

February 23, 2021

Sources of Tax Revenue: U.S. vs. OECD

February 17, 2021

5 Observations on Janet Yellen’s Recent Confirmation Testimony

January 22, 2021

Double Taxation of Corporate Income in the United States and the OECD

January 13, 2021

Reviewing Effective Tax Rates Faced by Corporate Income

November 19, 2020

The Unintended Consequences of Higher Corporate Taxes on Income Inequality

October 29, 2020

Details and Analysis of President Joe Biden’s Campaign Tax Plan

October 22, 2020

Tracking the 2020 Presidential Tax Plans

October 21, 2020

How Would Biden’s Tax Plan Change the Competitiveness of the U.S. Tax Code?

October 19, 2020

Role of the 2017 Tax Reform in the Nascent U.S. Economic Recovery

October 15, 2020

Reviewing Joe Biden’s Tax Vision

August 20, 2020