Corporate Tax Rate 2024 Usa Today. The creation of the federal corporate income tax occurred in 1909, when the uniform rate was 1% for all business income above $5,000. Corporate income taxes accounted for 2.27 percent of general revenue in fy 2020, which is more in line with historical norms.
The combined us rate would fall to 20.1 percent under trump’s proposed 15 percent federal corporate income tax rate, just above estonia ’s combined rate of 20. Harris’s presidential campaign said on monday that she planned to stick by a proposal put forward by president joe biden in recent years to bring the corporate tax.
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