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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