Federal Corporate Income Tax Rates, Income Years 1909-2014



Year Rate Brackets or Exemptions Rate (a)



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
1994-2014 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:  Tax Foundation, "Federal Corporate Income Tax Rates, Income Years 1909-2012," taxfoundation.org, July 6, 2012