Federal Corporate Income Tax Rates
 
 
Income Years 1909-2012
 
     
   
Rate(a)
Year Rate Brackets or Exemptions
(Percent)
1909-1913 $5,000 exemption
1
1913-1915 No exemption after March 1, 1913
1
1916 None
2
1917 None
6
1918 $2,000 exemption
12
1919-1921 $2,000 exemption
10
1922-1924 $2,000 exemption
13
1925 $2,000 exemption
13
1926-1927 $2,000 exemption
14
1928 $3,000 exemption
12
1929 $3,000 exemption
11
1930-1931 $3,000 exemption
12
1932-1935 None
14
   
1936-1937 First $2,000
8
  Over $40,000
15
   
1938-1939 First $25,000
12.5-16
  Over $25,000
19 (b)
   
1940 First $25,000
14.85-18.7
  $25,000 to $31,964.30
38
  $31,964.30 to $38,565.89
37
  Over $38,565.89
24
   
1941 First $25,000
21-25
  $25,000 to $38,461.54
44
  Over $38,461.54
31
   
1942-1945 First $25,000
25-29
  $25,000 to $50,000
53
  Over $50,000
40
   
1946-1949 First $25,000
21-25
  $25,000 to $50,000
53
  Over $50,000
38
   
1950 First $25,000 (Normal Rate)
23
  Over $25,000 (Add Surtax of 19%)
42
  Excess Profits Tax
30
   
1951 First $25,000 (Normal Rate)
28.75
  Over $25,000 (Add Surtax of 22%)
50.75
  Excess Profits Tax
30
   
1952 First $25,000 (Normal Rate)
30
  Over $25,000 (Add Surtax of 22%)
52
  Excess Profits Tax
30
   
1953-1963 First $25,000 (Normal Rate)
30
  Over $25,000 (Add Surtax of 22%)
52
   
1964 First $25,000 (Normal Rate)
22
  Over $25,000 (Add Surtax of 28%)
50
   
1965-1967 First $25,000 (Normal Rate)
22
  Over $25,000 (Add Surtax of 26%)
48
   
1968-1969 First $25,000 (Normal Rate)
22
  Over $25,000 (Add Surtax of 26%)
48
   
  With 10% Surcharge
  First $25,000 (Normal Rate)
24.20
  Over $25,000 (Add Surtax of 26%)
52.80
   
1970 First $25,000 (Normal Rate)
22
  Over $25,000 (Add Surtax of 26%)
48
   
  With 2.5% Surcharge (c)
  First $25,000 (Normal Rate)
22.55
  Over $25,000 (Add Surtax of 26%)
49.20
   
1971-1974 First $25,000 (Normal Rate)
22
  Over $25,000 (Add Surtax of 26%)
48
   
1975-1978 First $25,000 (Graduated Normal Rate)
20
  Next $25,0000 (Graduated Normal Rate)
22
  Over $50,000 (Add Surtax of 26%)
48
   
1979-1981 (d) First $25,000
17
  $25,000 to $50,000
20
  $50,000 to $75,000
30
  $75,000 to $100,000
40
  Over $100,000
46
   
1982 First $25,000
16
  $25,000 to $50,000
19
  $50,000 to $75,000
30
  $75,000 to $100,000
40
  Over $100,000
46
   
1983-1984 First $25,000
15
  $25,000 to $50,000
18
  $50,000 to $75,000
30
  $75,000 to $100,000
40
  Over $100,000
46
   
1985-1986 First $25,000
15
  $25,000 to $50,000
18
  $50,000 to $75,000
30
  $75,000 to $100,000
40
  $100,000 to $1,000,000
46
  $1,000,000 to $1,405,000 (e)
51
  Over $1,405,000
46
   
1987(f)-1993 First $50,000
15
  $50,000 to $75,000
25
  $75,000 to $100,000
34
  $100,000 to $335,000 (g)
39
  Over $335,000 
34
   
1994-2012 First $50,000
15
  $50,000 to $75,000
25
  $75,000 to $100,000
34
  $100,000 to $335,000  (g)
39
  $335,000 to $10,000,000
34
  $10,000,000 to $15,000,000
35
  $15,000,000 to $18,333,333 (h)
38
  Over $18,333,333
35
     
     
(a) In addition to the rates shown, certain types of 'excess profits' levies 
were in effect in 1917-1921 and 1933-1945.  
(b) Less adjustments:  14.025% of dividends received and 2.5% of 
dividends paid.    
(c) The Tax Reform Act of 1969 extended the Surcharge at a 5 percent rate 
from January 1, 1970 through June 1, 1970.  On an annualized basis,
the Surcharge would be 2.5 percent.  
(d) The Revenue Act of 1978 repealed the corporate normal tax and surtax
and in their place imposed a graduated rate structure with five brackets.
(e) The Deficit Reduction Act of 1984 placed an additional 5 percent to the
tax rate in order to phase out the benefit of the lower graduated rates for
corporations with taxable income between $1,000,000 and 1,405,000.
Corporations with taxable income above $1,405,000, in effect, pay a flat
marginal rate of 46 percent.  
(f) Rates shown effective for tax years beginning on or after July 1, 1987.
Taxable income before July 1, 1987 was subject to a two tax rate
schedule or a blended tax rate.  
(g) An additional 5 percent tax, not exceeding $11,750, is imposed on
taxable income between $100,000 and $335,000 in order to phase out the
benefits of the lower graduated rates.  
(h) An additional 3 percent tax, not exceeding $100,000, is imposed on 
taxable income between $15,000,000 and $18,333,333 in order to phase
out the benefits of the lower graduated rates.  
Source:  Treasury Department; Commerce Clearing House (CCH); Tax Foundation