Tax Data
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.
Additional questions about corporate taxes? Contact Bill Ahern at (202) 464-5101.
Tax Data from The Tax Foundation
- National and State Corporate Income Tax Rates, U.S. and OECD Countries, 2007 , March 25, 2008
- State Corporate Income Tax Rates, 2000-2008, March 22, 2008
- National-Level Statutory Corporate Tax Rates, 2007 , March 18, 2008
- Federal Corporate Income Tax Rates, Income Years 1909-2007, February 6, 2008
- State and Local Corporate Income Tax Collections Per Household and Per Capita, Fiscal Year 2005, February 5, 2008
- State Business Tax Climate Index Rankings, 2003-2008 , October 10, 2007
- State Corporate Income Tax Collections, 2006, June 4, 2007