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Minnesota
9.8%
Illinois
9.5%
Pennsylvania
8.99%
California
8.84%
Delaware
8.7%
District of Columbia
8.25%
Maryland
8.25%
Massachusetts
8%
Wisconsin
7.9%
Connecticut
7.5%
New Hampshire
7.5%
Rhode Island
7%
Montana
6.75%
Oregon
6.6%
Alabama
6.5%
New Jersey
6.5%
New York
6.5%
Tennessee
6.5%
West Virginia
6.5%
Michigan
6%
Vermont
6%
Virginia
6%
Idaho
5.8%
Georgia
5.75%
Nebraska
5.58%
Florida
5.5%
Iowa
5.5%
Kentucky
5%
South Carolina
5%
Arizona
4.9%
Indiana
4.9%
Utah
4.85%
New Mexico
4.8%
Colorado
4.4%
Hawaii
4.4%
Kansas
4%
Mississippi
4%
Missouri
4%
Oklahoma
4%
Louisiana
3.5%
Maine
3.5%
North Carolina
2.5%
North Dakota
1.41%
Arkansas
1%

Corporate Tax Rates by State 2024

Corporate Tax Rates by State 2024

Forty-four American states levy a corporate income tax, ranging from 2.5 percent in North Carolina to 12 percent in Iowa. Four states—Nevada, Ohio, Texas, and Washington—impose a “gross receipts tax” on sales and receipts instead of a corporate income tax, while Delaware, Pennsylvania, Virginia, and West Virginia levy a gross receipts tax in addition to a corporate income tax. South Dakota and Wyoming are the only states that do not levy a corporate income or gross receipts tax.

Thirty-four states and the District of Columbia have single-rate corporate tax systems, while the remainder has rates that vary by income bracket. Iowa has the highest top statutory corporate tax rate at 12 percent, followed by New Jersey (11.5 percent), Pennsylvania (9.99 percent), and Minnesota (9.8 percent).

Meanwhile, eight states have a top rate of 5% or below:

Even in states with high corporate tax rates, however, these taxes collect relatively little revenue, since companies are able to engage in extensive tax planning to reduce their income. Corporate income taxes account for an average of just 3.38 percent of state tax collections and 2.24 percent of state general revenue.

The federal corporate tax is based on a percentage of the income that a company or corporation generates within the United States. The corporate tax rate in the U.S. ranges based on income bracket from 15 percent to 35 percent.

Corporate Tax Rates by State 2024

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State
Minimum
Maximum
Brackets Minimum
Brackets Maximum
Additional Details
Minnesota9.8%0%$0-
Illinois9.5%0%$0-
Illinois’ rate includes two separate corporate income taxes, one at a 7% rate and one at a 2.5% rate...
Pennsylvania8.99%0%$0-
Pennsylvania permits gross receipts taxes at the local (but not state) level.
California8.84%0%$0-
Delaware8.7%0%$0-
Delaware has gross receipts taxes in addition to corporate income taxes.
District of Columbia8.25%0%$0-
Maryland8.25%0%$0-
Massachusetts8%0%$0-
Wisconsin7.9%0%$0-
Connecticut7.5%0%$0-
Connecticut has historically charged a 10% surtax on a business’s tax liability if it has gross proc...
New Hampshire7.5%0%$0-
Rhode Island7%0%$0-
Montana6.75%0%$0-
Oregon6.6%7.6%$0$1.00 Mn
Oregon has gross receipts taxes in addition to corporate income taxes.
Alabama6.5%0%$0-
New Jersey6.5%11.5%$0$1.00 Mn
In New Jersey, the rates indicated apply to a corporation’s entire net income rather than just incom...
New York6.5%7.3%$0$5.00 Mn
Tennessee6.5%0%$0-
Tennessee has gross receipts taxes in addition to corporate income taxes.
West Virginia6.5%0%$0-
West Virginia permits gross receipts taxes at the local (but not state) level.
Michigan6%0%$0-
Vermont6%8.5%$0$25,000
Virginia6%0%$0-
Virginia permits gross receipts taxes at the local (but not state) level.
Idaho5.8%0%$0-
Georgia5.75%0%$0-
Georgia’s corporate income tax rate will revert to 6% on January 1, 2026.
Nebraska5.58%7.3%$0$100,000
Florida5.5%0%$0-
Iowa5.5%8.4%$0$100,000
Kentucky5%0%$0-
South Carolina5%0%$0-
Arizona4.9%0%$0-
Indiana4.9%0%$0-
Utah4.85%0%$0-
New Mexico4.8%5.9%$0$500,000
Colorado4.4%0%$0-
Hawaii4.4%6.4%$0$100,000
Kansas4%7%$0$50,000
Mississippi4%5%$5,000$10,000
Missouri4%0%$0-
Oklahoma4%0%$0-
Louisiana3.5%7.5%$0$150,000
Maine3.5%8.9%$0$3.50 Mn
North Carolina2.5%0%$0-
North Dakota1.41%4.3%$0$50,000
Arkansas1%5.3%$0$25,000
Alaska0%9.4%$0$222,000
Nevada0%0%$0-
Nevada does not have a corporate income tax but does have a gross receipts tax with rates not strict...
Ohio0%0%$0-
Ohio does not have a corporate income tax but does have a gross receipts tax with rates not strictly...
South Dakota0%0%$0-
No corporate taxes.
Texas0%0%$0-
Texas does not have a corporate income tax but does have a gross receipts tax with rates not strictl...
Washington0%0%$0-
Washington does not have a corporate income tax but does have a gross receipts tax with rates not st...
Wyoming0%0%$0-
No corporate taxes.
showing: 51 rows

Corporate Tax Rates by State 2024

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State
Tax Rate
Bracket
Alabama6.5%$0
Alaska0%$0
Alaska2%$25,000
Alaska3%$49,000
Alaska4%$74,000
Alaska5%$99,000
Alaska6%$124,000
Alaska7%$148,000
Alaska8%$173,000
Alaska9%$198,000
Alaska9.4%$222,000
Arizona4.9%$0
Arkansas1%$0
Arkansas2%$3,000
Arkansas3%$6,000
Arkansas5%$11,000
Arkansas5.3%$25,000
California8.84%$0
Colorado4.4%$0
Connecticut7.5%$0
Delaware 8.7%$0
Florida5.5%$0
Georgia5.75%$0
Hawaii4.4%$0
Hawaii5.4%$25,000
Hawaii6.4%$100,000
Idaho5.8%$0
Illinois9.5%$0
Indiana4.9%$0
Iowa5.5%$0
Iowa8.4%$100,000
Kansas4%$0
Kansas7%$50,000
Kentucky5%$0
Louisiana3.5%$0
Louisiana5.5%$50,000
Louisiana7.5%$150,000
Maine3.5%$0
Maine7.93%$350,000
Maine8.33%$1.05 Mn
Maine8.93%$3.50 Mn
Maryland8.25%$0
Massachusetts8%$0
Michigan6%$0
Minnesota9.8%$0
Mississippi4%$5,000
Mississippi5%$10,000
Missouri4%$0
Montana6.75%$0
Nebraska5.58%$0
Nebraska7.25%$100,000
Nevada0%$0
New Hampshire7.5%$0
New Jersey6.5%$0
New Jersey7.5%$50,000
New Jersey9%$100,000
New Jersey11.5%$1.00 Mn
New Mexico4.8%$0
New Mexico5.9%$500,000
New York6.5%$0
New York7.25%$5.00 Mn
North Carolina2.5%$0
North Dakota1.41%$0
North Dakota3.55%$25,000
North Dakota4.31%$50,000
Ohio0%$0
Oklahoma4%$0
Oregon 6.6%$0
Oregon 7.6%$1.00 Mn
Pennsylvania8.99%$0
Rhode Island7%$0
South Carolina5%$0
South Dakota0%$0
Tennessee 6.5%$0
Texas0%$0
Utah4.85%$0
Vermont6%$0
Vermont7%$10,000
Vermont8.5%$25,000
Virginia6%$0
Washington0%$0
West Virginia6.5%$0
Wisconsin7.9%$0
Wyoming0%$0
District of Columbia8.25%$0
Puerto Rico0%-
showing: 86 rows

Corporate Tax Rates by State 2024

Sources