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1 Janelle Cammenga, State Corporate Income Tax Rates and Brackets for 2021 1 (2021)

handle is hein.taxfoundation/stcint0001 and id is 1 raw text is: State Corporate Income Tax Rates and Brackets for 2021 FISCAL Janelle Cammenga FACT Policy Analyst No. 744 Feb. 2021 Key Findings Forty-four states levy a corporate income tax. Rates range from 2.5 percent in North Carolina to 11.5 percent in New Jersey. Six states-Alaska, Illinois, Iowa, Minnesota, New Jersey, and Pennsylvania- levy top marginal corporate income tax rates of 9 percent or higher. Ten states-Arizona, Colorado, Florida, Kentucky, Mississippi, Missouri, North Carolina, North Dakota, South Carolina, and Utah-have top rates at or below 5 percent. Nevada, Ohio, Texas, and Washington impose gross receipts taxes instead of corporate income taxes. Gross receipts taxes are generally thought to be more economically harmful than corporate income taxes. South Dakota and Wyoming are the only states that levy neither a corporate income nor gross receipts tax. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and global levels. We are a 501(c)(3) nonprofit organization. ©2021 Tax Foundation Distributed under Creative Commons CC-BY-NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org

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