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

2023 State Business Tax Climate Index

October 25, 2022

Unpacking the State and Local Tax Toolkit: Sources of State and Local Tax Collections (FY 2020)

August 25, 2022

State Tax Reform and Relief Enacted in 2022

July 13, 2022

State Tax Changes Taking Effect July 1, 2022

June 28, 2022

State Legislatures Take Up Tax Reform and Relief in 2022

March 29, 2022

Facts & Figures 2022: How Does Your State Compare?

March 29, 2022


Related Articles

Ranking State Tax Systems: Corporate Taxes

November 22, 2022

The State Business Tax Climate Index Is Your Guide to Economic “Wins Above Replacement”

November 3, 2022

2023 State Business Tax Climate Index

October 25, 2022

How Do Taxes Affect Interstate Migration?

October 11, 2022

Combined Federal and State Corporate Income Tax Rates in 2022

September 27, 2022

New Mexico and the Question of Tax Competitiveness

September 1, 2022

Unpacking the State and Local Tax Toolkit: Sources of State and Local Tax Collections (FY 2020)

August 25, 2022

Arkansas’s Rate Reduction Acceleration

August 18, 2022

Pennsylvania Cuts Corporate Net Income Tax Rate

July 14, 2022

Idaho’s Tax Hiking Ballot Measure Is Riddled With Mistakes

July 14, 2022

State Tax Reform and Relief Enacted in 2022

July 13, 2022

Tax Reform Options to Improve Wisconsin’s Competitiveness

July 13, 2022

Oklahoma Becomes First State in Nation to Make Full Expensing Permanent

July 6, 2022

State Tax Changes Taking Effect July 1, 2022

June 28, 2022

Testimony: Pennsylvania Should Respond to Inflation with Structural Tax Reforms

June 22, 2022

Wisconsin Losing Ground to Tax-Friendly Peers

May 31, 2022

Missouri Tax Reform Could Give State Competitive Edge

April 20, 2022

Does Your State Have a Throwback or Throwout Rule?

April 12, 2022

State Legislatures Take Up Tax Reform and Relief in 2022

March 29, 2022

Facts & Figures 2022: How Does Your State Compare?

March 29, 2022