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1 Jared Walczak, State Corporate Income Tax Rates and Brackets for 2015 1 (2015)

handle is hein.taxfoundation/stcintxrb0001 and id is 1 raw text is: FOUNDATION FISCAL FACT Apr. 2015 No. 463 State Corporate Income Tax Rates and Brackets for 2015 By Jared Walczak Analyst Levied in 44 states, corporate income taxes account for a relatively small share of state revenue-5.2 percent of state tax collections and just over 2 percent of all state revenue, including federal transfers.' Top rates range from a low of 4.53 percent in North Dakota to a high of 12 percent in Iowa. Iowa's highest top corporate tax rate is followed by Pennsylvania's, at 9.99 percent. Four states and the District of Columbia levy single-rate corporate taxes of 9 percent or more: Minnesota (9.84 percent), Alaska (9.4 percent), the District of Columbia (9.4 percent), Connecticut (9 percent), and New Jersey (9 percent). At the other end of the spectrum, six states have top rates at or below 5 percent: North Dakota at 4.53 percent, Colorado at 4.63 percent, and Mississippi, North Carolina, South Carolina, and Utah all at 5.0 percent. Ohio, Texas, and Washington forego corporate income taxes but instead impose gross receipts taxes on businesses. Nevada, South Dakota, and Wyoming levy neither corporate income nor gross receipts taxes. The Tax Foundation is a 501(c)(3) non-partisan, non-profit research institution founded in 1937 to educate the public on tax policy. Based in Washington, D.C., our economic and policy analysis is guided by the principles of sound tax policy: simplicity, neutrality, transparency, and stability. @2015 Tax Foundation Distributed under Creative Commons CC-BY NC 4.0 Editor, Melodie Bowler Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 1 U.S. Census Bureau, State & Local Government Finance, Fiscal Year 2012, http://www.census.gov/govs/local/. taxfoundation.org

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