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1 Scott Moody, The Federal Corporate Income Tax since WWII 1 (1998)

handle is hein.taxfoundation/sribxz0001 and id is 1 raw text is: TAx P FOUNDATION August 1998 No. 81 The Federal Corporate Income Tax Since WWII in real terms, federal corporate income tax receipts have followed a slowly increasing trend since 1950 (see Figure 1). Figure 1 also shows how receipts have fluctuated over time with the business cycle and enactment of various tax legislation. By 1994 corporate income tax receipts had risen to their second highest level over this time period. While corporate income tax collections are an important barometer of the corporate tax burden, the primary focus of this paper is another important measure of the tax burden, the average effective corporate income tax rate (corporate taxes paid as a percentage of net income). The Average Effective Tax Rate Figure 2 shows an interesting pattern of average effective corporate income tax rates. From 1950 to 1970 the average effective corporate income tax rate hovered near 43 percent; from 1970 to 1974 the rate fell to around 28 percent; and from 1974 to the present, the average effective corporate income tax rate has remained in a fairly narrow range centered around 27 percent Figure I Federal Corporale Income Taxes Paid 1950- 1994 $Billions (1998 Dollars) 175 150 125 U) 100 0 0 = 75 50 25 0 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86 88 90 92 94 Year Sources: Tax Foundation, Internal Revenue Service. Scott Moody Eco? on oist Max loiitnalion

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