<Tr> <Td_colspan="3"> <P> Notes: The rates above are for regular corporate taxes based on income (including those called franchise taxes) and exclude the effect of alternative taxes and minimum taxes . Most states have a minimum income or franchise tax . The above rates generally apply to entities treated as corporations other than S Corporations and financial institutions, which may be subject to different rates of tax . Tax rates are before credits and reductions for corporations operating in certain parts of the state . </P> <P> (a) Excludes the effect of graduated tax rates based on level of income . </P> <P> (b) The Michigan Business Tax applies to incorporated and unincorporated businesses, and is based on alternative measure of income that may not relate to net income . </P> <P> (c) Businesses with an entire net income greater than $100 K pay 9% in all taxable income, companies with entire net income greater than $50 K and less than or equal to $100 K pay 7.5% on all taxable income, and companies with entire net income less than or equal to $50 K pay 6.5% on all taxable income . </P> <P> (d) A tax on gross receipts, the commercial activity tax (CAT), was phased in from 2005 to 2008 while the corporate franchise tax (CFT, Ohio's corporate net income tax) was phased out . Beginning April 1, 2009, the CAT rate was fully phased in at 0.26% . </P> <P> (e) The top income tax rate (7.9% on income over $250 K) applies to tax years beginning on or after January 1, 2009, and before January 1, 2011 . </P> <P> (f) Excludes local corporate income tax . </P> <P> (g) Excludes the effect of alternative tax bases, such as sales or assets . </P> <P> (h) Other tax rates may apply to certain corporations . </P> <P> (i) Missouri allows a deduction for federal income tax payments, reducing the effective state tax rate . </P> <P> (j) A higher rate applies if the corporation elects "water's edge" apportionment . </P> <P> (k) Also applies to unincorporated entities . </P> <P> (l) While not called an income tax, Texas imposes a franchise tax at the higher of a tax based on capital or a graduated tax based on income . </P> </Td> </Tr> <P> Notes: The rates above are for regular corporate taxes based on income (including those called franchise taxes) and exclude the effect of alternative taxes and minimum taxes . Most states have a minimum income or franchise tax . The above rates generally apply to entities treated as corporations other than S Corporations and financial institutions, which may be subject to different rates of tax . Tax rates are before credits and reductions for corporations operating in certain parts of the state . </P> <P> (a) Excludes the effect of graduated tax rates based on level of income . </P> <P> (b) The Michigan Business Tax applies to incorporated and unincorporated businesses, and is based on alternative measure of income that may not relate to net income . </P>

Us highest corporate tax rate in the world