| Comparison of State
Corporate Income Tax Rates |
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| (For Tax year 2001 -- as of January 1, 2001) |
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| State |
Tax Rates |
Tax Brackets |
|
# of Brackets |
Bank Tax Rates |
|
Federal Tax Deductible |
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| Alabama |
6.5 |
----Flat Rate---- |
|
1 |
6.5 |
|
* |
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| Alaska |
1.0 - 9.4 |
10,000 |
|
90,000 |
|
10 |
1.0 - 9.4 |
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| Arizona |
6.968 |
----Flat Rate---- |
|
1 |
6.968 |
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| Arkansas |
1.0 - 6.5 |
3,000 |
|
100,000 |
|
6 |
1.0 - 6.5 |
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| California |
8.84 (c) |
----Flat Rate---- |
|
1 |
10.84 (c) |
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| Colorado |
4.63 |
----Flat Rate---- |
|
1 |
4.63 |
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| Connecticut |
7.5 (d) |
----Flat Rate---- |
|
1 |
7.5 (d) |
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| Delaware |
8.7 |
----Flat Rate---- |
|
1 |
8.7-1.7 (e) |
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| Florida |
5.5 (f) |
----Flat Rate---- |
|
1 |
5.5 (f) |
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| Georgia |
6 |
----Flat Rate---- |
|
1 |
6 |
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| Hawaii |
4.4 - 6.4 (g) |
25,000 |
|
100,000 |
|
3 |
7.92 (g) |
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| Idaho |
8.0 (h) |
----Flat Rate---- |
|
1 |
8.0 (h) |
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| Illinois |
7.3 (i) |
----Flat Rate---- |
|
1 |
7.3 (i) |
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| Indiana |
7.9 (j) |
----Flat Rate---- |
|
1 |
8.5 |
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| Iowa |
6.0 - 12.0 |
25,000 |
|
250,000 |
|
4 |
5 |
|
* (k) |
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| Kansas |
4.0 (l) |
----Flat Rate---- |
|
1 |
2.25 (l) |
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| Kentucky |
4.0 - 8.25 |
25,000 |
|
250,000 |
|
5 |
--- (a) |
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| Louisiana |
4.0 - 8.0 |
25,000 |
|
200,000 |
|
5 |
--- (a) |
|
* |
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| Maine |
3.5 - 8.93 (m) |
25,000 |
|
250,000 |
|
4 |
1 |
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| Maryland |
7 |
----Flat Rate---- |
|
1 |
7 |
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| Massachusetts |
9.5 (n) |
----Flat Rate---- |
|
1 |
10.5 (n) |
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| Minnesota |
9.8 (o) |
----Flat Rate---- |
|
1 |
9.8 (o) |
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| Mississippi |
3.0 - 5.0 |
5,000 |
|
10,000 |
|
3 |
3.0 - 5.0 |
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| Missouri |
6.25 |
----Flat Rate---- |
|
1 |
7 |
|
* (k) |
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| Montana |
6.75 (p) |
----Flat Rate---- |
|
1 |
6.75 (p) |
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| Nebraska |
5.58 - 7.81 |
|
50,000 |
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|
2 |
--- (a) |
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| New Hampshire |
8.0 (q) |
----Flat Rate---- |
|
1 |
8.0 (q) |
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| New Jersey |
9.0 (r) |
----Flat Rate---- |
|
1 |
9 (r) |
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| New Mexico |
4.8 - 7.6 |
500,000 |
|
1 million |
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3 |
4.8 - 7.6 |
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| New York |
8.0 (s) |
----Flat Rate---- |
|
1 |
8.0 (s) |
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| North Carolina |
6.9 (t) |
----Flat Rate---- |
|
1 |
6.9 (t) |
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| North Dakota |
3.0 - 10.5 |
3,000 |
|
50,000 |
|
6 |
7 (b) |
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* |
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| Ohio |
5.1 - 8.5 (u) |
|
50,000 |
|
|
2 |
--- (u) |
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| Oklahoma |
6 |
----Flat Rate---- |
|
1 |
6 |
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| Oregon |
6.6 (b) |
----Flat Rate---- |
|
1 |
6.6 (b) |
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| Pennsylvania |
9.99 |
----Flat Rate---- |
|
1 |
--- (a) |
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| Rhode Island |
9.0 (b) |
----Flat Rate---- |
|
1 |
9.0 (v) |
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| South Carolina |
5 |
----Flat Rate---- |
|
1 |
4.5 (w) |
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| South Dakota |
--- |
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6.0-1.0% (b) |
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| Tennessee |
6 |
----Flat Rate---- |
|
1 |
6 |
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| Utah |
5.0 (b) |
----Flat Rate---- |
|
5.0 (b) |
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| Vermont |
7.0 - 9.75 (b) |
10,000 |
|
250,000 |
|
4 |
7.0 - 9.75 (b) |
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| Virginia |
6 |
----Flat Rate---- |
|
1 |
6.0 (x) |
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| West Virginia |
9 |
----Flat Rate---- |
|
1 |
9 |
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| Wisconsin |
7.9 |
----Flat Rate---- |
|
1 |
7.9 |
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| Dist. of Columbia |
9.975 (y) |
----Flat Rate---- |
|
9.975 (y) |
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| Footnotes: |
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| Source: The Federation of Tax Administrators from various sources. |
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