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1 Morgan Scarboro, State Corporate Income Tax Rates and Brackets for 2017 1 (2017)

handle is hein.taxfoundation/stcixrbk0001 and id is 1 raw text is: EState Corporate Income FISCAL Tax Rates and Brackets FACT Feb. 2017 for 2017 Morgan Scarboro Policy Analyst Key Findings: Forty-four states levy a corporate income tax. Rates range from 3 percent in North Carolina to 12 percent in Iowa. Six states -- Alaska, Connecticut, Iowa, Minnesota, New Jersey, and Pennsylvania, and the District of Columbia -- levy top marginal corporate income tax rates of 9 percent or higher. Seven states -- Arizona, North Carolina, North Dakota, Colorado, Mississippi, 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 do not levy a corporate income or 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 local levels. We are a 501(c)(3) non profit organization. ©2017 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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