Friday, 4 May 2018
10% Reduction in US Federal Corporation Tax Rate (2018)
The annual US federal corporation business tax has been reduced by 10% in 2018. This is such a good news for those who own a business in US.
The annual federal corporation tax is now 21%. In 2017 US had one of the highest corporation tax rate in the world! Now in 2018 it is more in line with Canada and other countries which is a great news for business owners. Great job US! And thank you!
Aside from federal corporation tax, states also charge corporation tax which ranges from zero (in states like Nevada) to 9%. Florida has state tax of 5.5%.
Currently the annual average total US corporation tax rate in 2018 is 26.6% (similar to Canada) but ranges from 21% to 30% depending on which state you do business.