Gross Income Tax (general corporations)
| Month - Year | 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| 2003 | 0% | 0% (repealed Jan. 1, 2003) |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)
| Month - Year | 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)
| Month - Year | 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| 2003 | 0% (repealed 01-01-2003) |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)
| Month - Year | 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)
| Month - Year | Rate |
|---|---|
| 2003 - Present | 1.4% |
Utility Service Use Tax (use tax sales of utility services)
| Month - Year | 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.