US Corporate Tax History

In 1913, the US Corporate Tax was 1%. It was raised to 2% in 1916 and to 6% in 1917 and to 12% in 1918 and 14% in 1926.

 

In 1936, brackets were added to the US Corporate Tax from 8% for income up to $2,000 and 15% over $40,000. In 1938, the “Top Rate” moved to 19%.

 

In 1940, the rates were set according to revenue levels, but smaller companies paid more. The rates spread from 24% to 38%. In 1941 the top rate rose to 53%.

 

Our top corporate tax rate was raised from 34% to 35% in 1993. 

 

https://taxfoundation.org/federal-corporate-income-tax-rates-income-years-1909-2012/

 

While other countries lowered their corporate taxes, the US remained at 35%. The US Corporate Tax Rate became the highest rate.  We need to ask Congress why they ignored the fact that our corporate tax rate was encouraging companies to move operations out of the US since 1993.

Norb Leahy, Dunwoody GA Tea Party Leader