Corporate Tax Rates

A few posts down in the Obama and Taxes thread, Captain Midnight tries to make the case that corporations don't pay high corporate tax rates, and he cites his own personal return to explicate his case.

I initially tried to answer in that threat, but couldn't get this table in there. So here it is. You can plainly see that US businesses do not have to be that profitable to hit very high corporate tax rates.



Corporate Income Tax Rates--2008, 2007, 2006, 2005, 2004, 2003


Taxable income over / Not over / Tax rate


$ 0/ $ 50,000/ 15%

50,000/ 75,000/ 25%

75,000/ 100,000/ 34%

100,000/ 335,000/ 39%

335,000/ 10,000,000/ 34%

10,000,000/ 15,000,000/ 35%

15,000,000/ 18,333,333/ 38%

18,333,333/ .......... / 35%