Wisconsin posted 17th highest corporate income tax in 2018


Among the District of Columbia and the 44 states that levy corporate income taxes, Wisconsin ranked No. 17 for the top tax rate on business revenues, according to a Tax Foundation analysis of 2018 tax numbers.

Wisconsin has a single tax bracket on corporate income, with a top rate of 7.9 percent, the study by policy analyst Morgan Scarboro said.

Top corporate income tax rates nationwide range from 12 percent to 3 percent, the analysis concluded.

For 2018, Connecticut brought down its top marginal corporate income tax rate from 9 percent to 8.25 percent, and the District of Columbia dropped its rate to 8.25 percent. Indiana’s rate dipped from 6 percent to 5.75 percent in July.

Nevada, Ohio, Texas and Washington levy business taxes on gross receipts in lieu of a corporate income tax. Only South Dakota and Wyoming have neither a corporate income tax nor a gross receipts tax.

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Which states have the highest corporate tax rates?

RankState Brackets  Rates per Bracket Top Rates
1Iowa$0

$25,000

$100,000

$250,000

6.00%

8.00%

10.00%

12.00%

12.00%
2Pennsylvania$09.99%9.99%
3Minnesota$09.80%9.80%
4Illinois$09.50%9.50%
5Alaska$0

$25,000

$49,000

$74,000

$99,000

$124,000

$148,000

$173,000

$198,000

$222,000

0.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

9.40%

9.40%
6New Jersey$100,0009.00%9.00%
7Maine$0

$25,000

$75,000

$250,000

3.50%

7.93%

8.33%

8.93%

8.93%
8California$08.84%8.84%
9Delaware$08.70%8.70%
10Vermont$0

$10,000

$25,000

6.00%

7.00%

8.50%

8.50%
11Connecticut$08.25%8.25%
12District of Columbia$08.25%8.25%
13Maryland$08.25%8.25%
14New Hampshire$08.20%8.20%
15Louisiana$0

$25,000

$50,000

$100,000

$200,000

4.00%

5.00%

6.00%

7.00%

8.00%

8.00%
16Massachusetts$08.00%8.00%
17Wisconsin$07.90%7.90%
18Nebraska$0

$100,000

5.58%

7.81%

7.81%
19Oregon$0

$1,000,000

6.60%

7.60%

7.60%
20Idaho$07.40%7.40%
21Kansas$0

$50,000

4.00%

7.00%

7.00%
22Rhode Island$07.00%7.00%
23Montana$06.75%6.75%
24Alabama$06.50%6.50%
25Arkansas$0

$3,000

$6,000

$11,000

$25,000

$100,000

1.00%

2.00%

3.00%

5.00%

6.00%

6.50%

6.50%
26New York$06.50%6.50%
27Tennessee$06.50%6.50%
28West Virginia$06.50%6.50%
29Hawaii$0

$25,000

$100,000

4.40%

5.40%

6.40%

6.40%
30Missouri$06.25%6.25%
31Georgia$06.00%6.00%
32Indiana$05.75%5.75%
33Kentucky$0

$50,000

$100,000

4.00%

5.00%

6.00%

6.00%
34Michigan$06.00%6.00%
35Oklahoma$06.00%6.00%
36Virginia$06.00%6.00%
37New Mexico$0

$500,000

4.80%

5.90%

5.90%
38Florida$05.50%5.50%
39Mississippi$0

$1,000

$5,000

$10,000

0.00%

3.00%

4.00%

5.00%

5.00%
40South Carolina$05.00%5.00%
41Utah$05.00%5.00%
42Arizona$04.90%4.90%
43Colorado$04.63%4.63%
44North Dakota$0

$25,000

$50,000

1.41%

3.55%

4.31%

4.31%
45North Carolina$03.00%3.00%
Source: Tax Foundation; state tax statutes, forms, and instructions; Bloomberg BNA

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