Thursday, November 14, 2024
Hawai'i Free Press

Current Articles | Archives

Thursday, March 7, 2019
How Much Does Your State Collect in Corporate Income Taxes Per Capita?
By Tax Foundation @ 3:10 AM :: 4822 Views :: Small Business, Taxes

How Much Does Your State Collect in Corporate Income Taxes Per Capita?

by Katherine Loughead, Tax Foundation, March 6, 2019

This week’s state tax map continues our collections per capita series by examining corporate income tax collections per capita in each of the 50 states.

In fiscal year (FY) 2017, corporate income tax collections per capita were highest in New Hampshire ($427), Massachusetts ($320), Tennessee ($257), and Delaware and California (both at $256). At the other end of the spectrum, states with the lowest corporate income tax collections per capita were South Dakota ($35), Oklahoma ($40), New Mexico ($44), Missouri ($50), and Arizona ($52).

How Much Does Your State Collect in Corporate Income Taxes Per Capita?

Six states—Nevada, Ohio, South Dakota, Texas, Washington, and Wyoming—do not levy a corporate income tax. However, in some states without a corporate income tax, a small amount of corporate income tax revenue is shown (such as in Ohio and South Dakota) due to taxes on specific types of businesses (such as financial institutions), which are sometimes structured as corporations.

It is important to note that among the states without a corporate income tax, four of the six (Nevada, Ohio, Texas, and Washington) instead have state-levied gross receipts taxes on businesses. The Census Bureau does not classify revenue from gross receipts taxes as corporate income tax revenue, but gross receipts taxes are generally considered more economically harmful than corporate income taxes due to tax pyramiding and their lack of transparency. Delaware, among the states with the highest corporate income tax collections per capita, has both a corporate income tax and a gross receipts tax levied by the state.

When thinking about business taxes, the corporate income tax may be among the first that comes to mind, but it is far from the only tax businesses pay. In addition to corporate income taxes, corporations are subject to sales, property, unemployment insurance, excise, payroll, and business license taxes, among others. In FY 2017, corporate income taxes accounted for only 14.4 percent of all taxes paid by businesses to state governments.

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii