Economic Policy Institute: State Corporate Income Tax Revenues Have Eroded Sharply in Recent Decades
April 15, 2022
April 15, 2022
WASHINGTON, April 15 (TNSRep) -- The Economic Policy Institute issued the following news release:
A new EPI report finds that the effective state and local tax rate on corporate profits shrunk by between a third and a half between 1989 and 2017, resulting in a revenue shortfall between $43 billion and $57 billion.
Further, more than 60% of corporations pay no state corporate income tax in seven states--Connecticut, Colorado, Florida, Illinois, Michigan, Tennessee, and W . . .
A new EPI report finds that the effective state and local tax rate on corporate profits shrunk by between a third and a half between 1989 and 2017, resulting in a revenue shortfall between $43 billion and $57 billion.
Further, more than 60% of corporations pay no state corporate income tax in seven states--Connecticut, Colorado, Florida, Illinois, Michigan, Tennessee, and W . . .