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- Federal Revenue
- Taxes & Tax Rates
- Federal Spending
- Budget Comparisons
- Projected Spending
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Corporate Income Tax Receipts Stay Constant Even as Tax Rates Declined |
The top corporate tax rate was reduced sharply under President Reagan — from 46 percent to 34 percent. Yet today, with a combined federal and state tax rate of 35 percent, America has one of the highest corporate tax rates in the developed world. |
Top Federal Corporate Income Tax Rates and Receipts, 1960–2008 |
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Source: Rates from U.S. Advisory Commission on Intergovernmental Relations, Tax Foundation, Facts and Figures on Government Finance, 1988-89 Edition (Washington, DC, 1988); Commerce Clearing House, 1993 U.S. Master Tax Guide (Chicago, 1993); and SOI Corporation Tax Returns, various years; Receipts from FY 2009 Historical Tables, Budget of the United States Government, Table 2.3. |
