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DOR > About Us > Tax Types & Various Rates > Corporate Tax Rate History Corporate Tax Rate History

Gross Income Tax (general corporations)

Month - Year High Rate Low Rate
05/1933 - 06/1963 1.00 % .2500%
07/1963 - 03/1973 2.00% .5000%
04/1973 - 12/1973 1.90% .4750%
1974 1.80% .4500%
1975 1.70% .4250%
1976 1.60% .4000%
1977 1.55% .3875%
1978 1.50% .3750%
1979 1.45% .3623%
1980 1.40% .3500%
1981 1.35% .3375%
1982 - 1984 1.30% .3250%
1985 1.25% .3125%
1986 - 2002 1.20% .3000%
2003 0% 0%
(repealed Jan. 1, 2003)

Adjusted Gross Income Tax (general corporations, non-financial Institutions)

Month - Year Rate
07/1963 - 1972 2.0%
1973 - 1986 3.0%
1987 3.2%
(3.4% effective rate July 1, 1987)
07/1987 - 2002 3.4%
2003 - June 30, 2012 8.5%
July 1, 2012 – June 30, 2013 8%
July 1, 2013 – June 30, 2014 7.5%
July 1, 2014 – June 30, 2015 7%
July 1, 2015 6.5%

Supplemental Net Income Tax (all corporations, financial institutions until 1989)

Month - Year Rate
1973 - 1974 2.0%
1975 - 1976 2.5%
1977 - 1980 3.0%
1982 - 1986 4.0%
1987 - 2002 4.5%
2003 0%
(repealed 01-01-2003)

Financial Institutions Tax (replaced former bank taxes)

Month - Year Rate
1990 - Present 8.5%

Utility Receipts Tax (retail sales of utility services)

Month - Year Rate
2003 - Present 1.4%

Utility Service Use Tax (use tax sales of utility services)

Month - Year Rate
2006 - Present 1.4%

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