Tuesday, May 14, 2019

US Corporate Tax Rate History


In 1909, Federal taxes on US company revenue had a top rate of 1.0%.  World War I prompted a rise to 2.0% in 1916.

US involvement in WWI raised it to 6.0% in 1917 and 12.0% in 1918. The top corporate tax rate remained in the 10.0% to 13.8% range from 1919 to 1936.

In 1936, the top rate went to 15% anticipating World War II, then rose to 19% in 1938, 24% in 1940 and 31% in 1941.

In 1942, the top rate was 40.0%. In 1951, it moved to 50.75% and remained in the 50% range until 1979 when it moved to 46%.

In 1987, it moved to 40% and then to 35% in 1993.

Top Rate by Year
1909 1.0%
1916 2.0%
1917 6.0%
1918 12.0%
1919 10.0%
1922 12.5%
1925 13.0%
1926 13.5%
1928 12.0%
1929 11.0%
1930 12.0%
1932 13.8%
1936 15.0%
1938 19.0%
1940 24.0%
1941 31.0%
1942 40.0%
1950 38.0%
1951 50.75%
1952 52.0%
1964 50.0%
1965 48.0%
1968 52.8%
1970 49.2%
1979 46.0%
1987 40.0%
1988 34.0%
1993 35.0%
2018 21.0%


Comments

We lowered the corporate tax rate by 14% and cut unnecessary regulation to allow companies to return manufacturing to the US.

Norb Leahy, Dunwoody GA Tea Party Leader 

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