Center for State Tax Policy

Corporate Income Taxes

The federal corporate income tax was first instituted in 1909 when income above $5,000 was subjected to a one percent tax rate. Since then it has changed approximately 35 times, with the current top rate at 35 percent.

Additionally, many 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.


Related Articles

Alabama Considers Several Tax Increase Plans

May 14, 2015

North Carolina Tax Revenue Exceeding Expectations Following Tax Cuts

May 8, 2015

New York City Enacts Corporate Income Tax Conformity Package

April 28, 2015

North Dakota Cuts Income Taxes Again

April 27, 2015

State Corporate Income Tax Rates and Brackets for 2015

April 21, 2015

Pennsylvania Governor Proposes Major Tax Overhaul

March 6, 2015

Connecticut Mulls Large Corporate Tax Increase, Sales Tax Base Expansion

February 23, 2015

What Pennsylvania Can Do on Tax Reform this Session

February 20, 2015

The Dual Tax Burden of S Corporations

February 19, 2015

Gov. Kasich’s Plan May Be A Tax Cut, But It’s Still Poor Policy

January 30, 2015

Comments on Who Pays? A Distributional Analysis of the Tax Systems in All 50 States (Second Edition)

January 16, 2015

New York City Mayor Announces Plans to Change City’s Corporate Income Tax Code

January 15, 2015

Maine Gears Up for a Serious Tax Reform Conversation

January 9, 2015

Taxes in Many States Changing January 1, 2015

December 31, 2014

Corporate Net Operating Loss Carryforward and Carryback Provisions by State

November 6, 2014

Is New York City Eyeing Corporate Tax Reform?

October 2, 2014

Governor Rick Scott Offers Mixed Bag of Tax Proposals for Florida

September 3, 2014

Alaska Voters to Decide Oil Production Tax Changes

August 18, 2014

Reviewing Rhode Island’s New Budget

July 17, 2014

New Jersey Budget Avoids Harmful Temporary Tax Hikes, Allows For State “Amazon Tax”

July 11, 2014