Center for State 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


Featured Research

Biden Administration Changes to GILTI and FDII Will Yield Automatic State Tax Increases

May 25, 2021

Location Matters 2021: The State Tax Costs of Doing Business

May 5, 2021

Facts and Figures 2021: How Does Your State Compare?

March 10, 2021

Which States Are Taxing Forgiven PPP Loans?

February 22, 2021

Tax-A-Rama in Maryland

February 9, 2021

State Corporate Income Tax Rates and Brackets for 2021

February 3, 2021


Related Articles

Louisiana Fiscal Session Finishes Strong with Tax Reform

Wisconsin’s Surplus Presents Opportunity for Down Payment on Future Economic Growth

Montana Adopts Individual and Corporate Income Tax Reform

Oklahoma Passes Corporate and Individual Income Tax Reductions

Biden Administration Changes to GILTI and FDII Will Yield Automatic State Tax Increases

What Location Matters Can Tell Us About State Tax Competitiveness

Location Matters 2021: The State Tax Costs of Doing Business

U.S. Top Combined Integrated Tax Rate on Corporate Income Would Become Highest in the OECD

Kansas Lawmakers to Consider Veto Override on Tax Reform Bill

Louisiana Aims at Comprehensive Tax Reform

Excluding GILTI and Reducing the Corporate Tax Rate Would Improve Nebraska’s Economic Competitiveness

How High Are State and Local Tax Collections in Your State?

14.8% Individual Income Tax and 16.1% Corporate Income Tax Coming To New York City?

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

Facts and Figures 2021: How Does Your State Compare?

Testimony: Prioritizing Comprehensive Tax Modernization in Nebraska

Combined State and Federal Corporate Income Tax Rates in 2021

A $6 Billion Tax Increase Proposal in Pennsylvania Would Yield the Nation’s Highest Combined Flat-Rate Income Taxes

Which States Are Taxing Forgiven PPP Loans?

Join Us for a Free “State Tax Policy Boot Camp”