Tax Type
Tax Type Corporate Excise Tax
Beginning in Fiscal Year 2013, the corporate section of the Tax Expenditure Budget includes other business excises along with the corporate excise. These additional business excise taxes are the financial institution excise, the public utility excise which was repealed effective January 1, 2014, the excises on insurance companies, and the …Read more
Fiscal Year 2020 Corporate Excise Tax (in Millions)
Tax Type
Tax Expenditure
Tax Expenditure Name
Tax Expenditure Number
FY2016
FY2017
FY2018
FY2019
FY2020
2.300
Accelerated Deductions from Gross Income
Accelerated Deductions from Gross Income
Accelerated Deductions from Gross Income
2.300
491.0
414.8
371.1
347.6
333.7
2.400
Adjustments to Apportionment Formula
Adjustments to Apportionment Formula
Adjustments to Apportionment Formula
2.400
377.1
382.3
387.4
392.6
398.0
2.500
Exclusions from Property Component
Exclusions from Property Component
Exclusions from Property Component
2.500
306.4
333.6
367.0
403.7
444.1
Total
1,980.2
1,982.6
2,037.4
2,092.3
2,167.3
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