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1 Nicole Kaeding, State Corporate Income Tax Rates and Brackets for 2016 1 (2016)

handle is hein.taxfoundation/stcointxbk0001 and id is 1 raw text is: TAXS FOUNDATION State Corporate Income Tax Rates FISCAL and Brackets for 2016 FACT Jan. 2016 By Nicole Kaeding No. 497 Economist Key Findings: Forty-four states levy a corporate income tax. Rates range from 4 percent in North Carolina to 12 percent in Iowa. Four states, Minnesota, Alaska, Connecticut, and New Jersey, and the District of Columbia levy corporate income tax rates of 9 percent or higher. Six states, 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 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 nor gross receipts tax. 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, DC, our economic and policy analysis is guided by the principles of sound tax policy: simplicity, neutrality, transparency, and stability. @2016 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 taxfoundation.org

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