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Corporate & Sales Tax History

Gross Income Tax (general corporations)

Timeframe High Rate Low Rate
May 1933 - June 1963 1.00 % .250%
July 1963 - Feb. 1973 2.00% .500%
April - Dec. 1973 1.90% .475%
1974 1.80% .450%
1975 1.70% .425%
1976 1.60% .400%
1977 1.55% .3875%
1978 1.50% .375%
1979 1.45% .3623%
1980 1.40% .350%
1981 1.35% .3375%
1982 - 1984 1.30% .325%
1985 1.25% .3125%
1986 - 2002 1.20% .300%
2003 0% 0% (repealed Jan. 1, 2003)

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

TimeframeRate
July 1963 - 1972 2.00%
1973 - 1986 3.00%
Jan. - June 1987 3.20%
July 1, 1987 - 2002 3.40%
2003 - June 30, 2012 8.50%
July 1, 2012 - June 30, 2013 8.00%
July 1, 2013 - June 30, 2014 7.50%
July 1, 2014 - June 30, 2015 7.00%
July 1, 2015 - June 30, 2016 6.50%
July 1, 2016 - June 30, 2017 6.25%
July 1, 2017 - June 30, 2018 6.00%
July 1, 2018 - June 30, 2019 5.75%
July 1, 2019 - June 30, 2020 5.50%
July 1, 2020 - June 30, 2021 5.25%
July 1, 2021 - Present 4.90%

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

TimeframeRate
1973 - 1974 2.00%
1975 - 1976 2.50%
1977 - 1980 3.00%
1982 - 1986 4.00%
1987 - 2002 4.50%
Jan. 1, 2003 (repealed) 0%

Financial Institutions Tax (replaced former bank taxes)

TimeframeRate
1990 - 2013 8.50%
Jan. 1, 2014 - Dec. 31, 2014 8.00%
Jan. 1, 2015 - Dec. 31, 2015 7.50%
Jan. 1, 2016 - Dec. 31, 2016 7.00%
Jan. 1, 2017 - Dec. 31, 2017 6.50%
Jan. 1, 2018 - Dec. 31, 2018 6.50%
Jan. 1, 2019 - Dec. 31, 2019 6.25%
Jan. 1, 2020 - Dec. 31, 2020 6.00%
Jan. 1, 2021 - Dec. 31, 2021 5.50%
Jan. 1, 2022 - Dec. 31, 2022 5.00%
Jan. 1, 2023 - Present 4.90%

Utility Receipts Tax (retail sales of utility services)

TimeframeRate
2003 - Present 1.40%
2003 - 2021 1.40%
Jan. 1, 2022 - June 30, 2022 1.46%
July 1, 2022 (repealed) 0%

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

TimeframeRate
2006 - Present 1.40%
2006 - 2021 1.40%
Jan. 1, 2022 - June 30, 2022 1.46%
July 1, 2022 (repealed) 0%

Sales Tax Rate History

Effective DateRate
April 1, 2008 - Present 7.00%
Dec. 1, 2002 - March 31, 2008 6.00%
Jan. 1, 1983 5.00%
May 1, 1973 4.00%
Oct. 24, 1963 (sales tax first adopted) 2.00%