Gross Income Tax (general corporations)
| Timeframe | High Rate | Low Rate |
|---|
|
05/1933 – 06/1963
|
1.00 %
|
.2500%
|
|
07/1963 – 03/1973
|
2.00%
|
.5000%
|
|
04/1973 – 12/1973
|
1.90%
|
.4750%
|
|
1974
|
1.80%
|
.4500%
|
|
1975
|
1.70%
|
.4250%
|
|
1976
|
1.60%
|
.4000%
|
|
1977
|
1.55%
|
.3875%
|
|
1978
|
1.50%
|
.3750%
|
|
1979
|
1.45%
|
.3623%
|
|
1980
|
1.40%
|
.3500%
|
|
1981
|
1.35%
|
.3375%
|
|
1982 – 1984
|
1.30%
|
.3250%
|
|
1985
|
1.25%
|
.3125%
|
|
1986 – 2002
|
1.20%
|
.3000%
|
|
2003
|
0%
|
0% (repealed Jan. 1, 2003)
|
Adjusted Gross Income Tax (general corporations, non–financial Institutions)
| Timeframe | Rate |
|---|
| 07/1963 – 1972 | 2.0% |
|
1973 – 1986 |
3.0%
|
|
1987
|
3.2% (3.4% effective rate July 1, 1987)
|
|
07/1987 – 2002
|
3.4%
|
|
2003 – June 30, 2012
|
8.5%
|
|
July 1, 2012 – June 30, 2013
|
8%
|
|
July 1, 2013 – June 30, 2014
|
7.5%
|
|
July 1, 2014 – June 30, 2015
|
7%
|
|
July 1, 2015 – June 30, 2016
|
6.5%
|
|
July 1, 2016 – June 30, 2017
|
6.25%
|
|
July 1, 2017 – June 30, 2018
|
6.0%
|
|
July 1, 2018 – June 30, 2019
|
5.75%
|
|
July 1, 2019 – June 30, 2020
|
5.5%
|
|
July 1, 2020 – June 30, 2021
|
5.25%
|
|
July 1, 2021 –
|
4.9%
|
Supplemental Net Income Tax (all corporations, financial institutions until 1989)
| Timeframe | Rate |
|---|
|
1973 – 1974
|
2.0%
|
|
1975 – 1976
|
2.5%
|
|
1977 – 1980
|
3.0%
|
|
1982 – 1986
|
4.0%
|
|
1987 – 2002
|
4.5%
|
|
2003
|
0% (repealed 01–01–2003)
|
Financial Institutions Tax (replaced former bank taxes)
| Timeframe | Rate |
|---|
|
1990 – 2013
|
8.5%
|
|
January 1, 2014 – December 31, 2014
|
8.0%
|
|
January 1, 2015 – December 31, 2015
|
7.5%
|
|
January 1, 2016 – December 31, 2016
|
7.0%
|
|
January 1, 2017 – December 31, 2017
|
6.5%
|
|
January 1, 2018 – December 31, 2018
|
6.5%
|
|
January 1, 2019 – December 31, 2019
|
6.25%
|
|
January 1, 2020 – December 31, 2020
|
6.0%
|
|
January 1, 2021 – December 31, 2021
|
5.5%
|
|
January 1, 2022 – December 31, 2022
|
5.0%
|
|
January 1, 2023 and on
|
4.9%
|
Utility Receipts Tax (retail sales of utility services)
| Timeframe | Rate |
|---|
|
2003 – Present
|
1.4%
|
Utility Service Use Tax (use tax sales of utility services)
| Timeframe | Rate |
|---|
|
2006 – Present
|
1.4%
|
Sales Tax Rate History
| Effective Date | Rate |
|---|
|
April 1, 2008 thru present
|
7%
|
|
Dec. 1, 2002 thru March 31, 2008
|
6%
|
|
Jan. 1, 1983
|
5%
|
|
May 1, 1973
|
4%
|
|
Oct. 24, 1963*
|
2%
|
*Sales tax first adopted.
