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U.S. Corporation -Company formation in the USA: Corporate Taxes

Company Formation in the USA: Corporate Taxes

Corporate taxes :

Income:Tax rate:
US$50,001–75,000US$7,500 + 25% of the excess amount
US$75,001–100,000US$13,750 + 34% of the excess amount
US$100,001–335,000US$22,250 + 39% of the excess amount
US$335,001–10,000,000US$113,900 +34% of the excess amount
US$10,000,001–15,000,000US$3,400,000 + 35% of the excess amount
US$15,000,001–18,330,000US$5,150,000 + 38% of the excess amount
US$18,330,001 and above35%

Smaller companies may use a simplified income tax return Form 1120-A if they meet the following requirements, among others:

  • Gross receipts and total income are both under $500,000;
  • Total assets are also under $500,000;
  • Does not own and is not owned by a foreign corporation.

Company formation in the USA: US State Income Tax For Corporations

US State Income Tax For Corporations – 2004

StateIncome Tax (Range) %Brackets ($)CommentsFederal Tax Deductible?
Alabama6.5flat rate Yes
Alaska1.0 – 9.410,000 – 90,000 No
Arizona6.968flat rate No
Arkansas1.0 – 6.53,000 – 100,000 No
California8.84flat rate1.5% for S CorporationsNo
Colorado4.63flat rate No
Connecticut7.5flat rate No
Delaware8.7flat rate No
Florida5.5flat rate No
Georgia6.0flat rate No
Hawaii4.4 – 6.425,000 – 100,000 No
Idaho7.6flat rate No
Illinois7.3flat rate No
Indiana8.5flat rate No
Iowa6.0 – 12.025,000 – 250,000 Yes (50%)
Kansas4.0flat ratePlus 3.5% over 50,000No
Kentucky4.0 – 8.2525,000 – 250,000 No
Louisiana4.0 – 8.025,000 – 200,000 Yes
Maine3.5 – 8.9325,000 – 250,000 No
Maryland7.0flat rate No
Massachusetts9.5flat rate No
Michigan1.9flat ratewide tax-baseNo
Minnesota9.8flat rate No
Mississippi3.0 – 5.05,000 – 10,000 No
Missouri6.25flat rate Yes
Montana6.75flat rate No
Nebraska5.58 – 7.8150,000 No
New Hampshire8.5flat rate No
New Jersey9.0flat rate No
New Mexico4.8 – 7.6500,000 – 1m No
New York7.5flat rate No
North Carolina6.9flat rate No
North Dakota3.0 – 10.53,000 – 50,000 Yes
Ohio5.1 – 8.550,000 No
Oklahoma6.0flat rate No
Oregon6.6flat rate No
Pennsylvania9.9flat rate No
Rhode Island9.0flat rate No
South Carolina5.0flat rate No
South Dakota6.0flat rate No
Tennessee6.5flat rate No
Texas4.5flat rateon ‘earned surplus’No
Utah5.0flat rate No
Vermont7.0 – 9.7510,000 – 250,000 No
Virginia6.0flat rate No
West Virginia9.0flat rate No
Wisconsin7.9flat rate No
Washington DC9.975flat rate No