State corporate income tax rates

Tax Tips for the Self-Employed. Find Out More About Your Taxes! What states have no corporate income tax? How much is state income tax? Do all states have a state income tax?

Lowest Tax Highest Tax No Corp. Tax Corporate taxes (also known as business income taxes ) are taxes that apply to the gross income of taxable businesses. In addition to the federal corporate income tax , which applies to all corporations nationwide, all but six states charge an additional state.

A further reduction to 5. Forty-four states levy a corporate income tax. North Carolina to percent in Iowa. Seven states — Arizona,.

Delaware has gross receipts taxes in addition to corporate income taxes, as do several states like Pennsylvania, Virginia, and West Virginia, which permit gross receipts taxes at the local (but not state ) level.

State Corporate Income Tax Rates. Download state _ corporate _ income _ tax. Many state pages also provide direct links to selected income tax return forms and other resources.

The Illinois rate of 9. If you want to compare all of the state tax rates on one page, visit. Access IRS Tax Forms. Complete, Edit or Print Tax Forms Instantly. Filing Tax es in Colorado. Get Every Dollar You Deserve.

Industry-Specific Deductions. Free for Simple Tax Returns. Maximum Refund Guaranteed. Increase Your Tax Savings. Iowa levies the highest top statutory corporate tax rate at percent, followed by New Jersey (1 percent), Pennsylvania (percent), and Minnesota ( percent).

Two other states (Alaska and Illinois) levy rates of percent or higher. KPMG ’s corporate tax table provides a view of corporate tax rates around the world.

Use our interactive Tax rates tool to compare tax rates by country, jurisdiction or region. Tax rates for both corporate income and personal income vary widely among states. Corporate rates , which often are flat regardless of the amount of income , generally range from to , and personal rates , which often vary depending on the amount of income , can range from to or more in some states. Michigan has a flat corporate income tax rate of 6. It is common to say that the U. Most states tax at least some types of business income derived from the state.

This page lists state individual income tax rates for all fifty states, including brackets for those filing both as an individual and jointly with a spouse. You must pay the tax as you earn or receive income during the year. An employee usually has income tax withheld from his or her pay. If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax.

Under state law, Minnesota’s income tax brackets are recalculated each year based on the rate of inflation.