Corporate Income Tax Rates

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StateTop RateLast Change
Iowa12.00%1981 - Increase from 10.00%
Arkansas6.50%Never changed
Illinois9.50%2017 - Cut
Indiana6.25%2015 - Cut
Kansas7.00%2011 - Fluctuates
Michigan6.00%2011 - Cut
Minnesota9.80%unknown
Missouri6.25%unknown
Nebraska7.81%unknown
N. Dakota4.31%2015 - Cut
Ohio0.26% Gross Receipts TaxFluctuates
Oklahoma6.00%unknown
S. Dakota- No Tax-
Wisconsin7.90%unknown

Arkansas assesses a surcharge of 3% of the taxpayer’s total liability.

Ohio does not have a corporate income tax but does have a gross receipts tax with a rat not strictly comparable to corporate.

Source: taxfoundation.org/state-corporate-income-tax-rates-and-brackets-2016/

History of Iowa Corporation Income Tax Rates and Brackets

Effective Tax Year

Rates and Income Tax Brackets

1934 Flat rate of 2.0%
1955 Rate increased to 3.0%
1957 Rate lowered to 2.0%
1959 Rate increased to 3.0%
1965 Rate increased to 4.0%
1967 Additional rates increased with 3 taxable income brackets:

Up to $25,000 – 4.0%

$25,000 to $100,000 – 6.0%

Over $100,000 – 8.0%

1971 Up to $25,000 – 6.0%

$25,000 to $100,000 – 8.0%

Over $100,000 – 10.0%

1981 Up to $25,000 – 6.0%

$25,000 to $100,000 – 8.0%

$100,000 to $250,000 – 10.0%

Over $250,000 – 12.0%