skip to main content
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 These additional business excise taxes are the financial institution excise, the public utility excise which was repealed effective January 1, 2014, the excises on insurance companies, and the excise …Read more 

Fiscal Year 2021 Corporate Excise Tax (in Millions)

Tax Expenditure
FY2017
FY2018
FY2019
FY2020
FY2021
2.000
Exclusions from Gross Income
126.4
129.2
130.7
135.9
136.9
2.100
Deferrals of Gross Income
0.8
0.8
0.8
0.8
0.8
2.200
Deductions from Gross Income
169.8
171.7
176.1
180.7
185.3
2.300
Accelerated Deductions from Gross Income
400.3
358.3
345.9
327.7
314.5
2.400
Adjustments to Apportionment Formula
411.4
419.6
428.1
436.8
445.6
2.500
Exclusions from Property Component
348.1
365.5
383.7
402.9
423.1
2.600
Credits Against Tax
538.1
563.8
609.1
650.0
680.3
2.700
Entity Exempt from Taxation
7.3
8.5
9.3
9.6
9.8
Total
2,002.2
2,017.4
2,083.7
2,144.4
2,196.3
Loading...
Download theCorporate Excise Tax Tax Type Fiscal Year 2021 Corporate Excise Tax (in Millions) data