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 These additional business excise taxes are the financial institution excise, the public utility excise which was repealed effective January 1, 2014, the excises on insurance companies, and the excise …Read more

Fiscal Year 2022 Corporate Excise Tax (in Millions)

2.000
Exclusions from Gross Income

Exclusions from Gross Income

2.000

134.7

149.4

152.6

156.6

161.3

2.100
Deferrals of Gross Income

Deferrals of Gross Income

2.100

6.1

9.8

10.4

9.8

10.2

2.200
Deductions from Gross Income

Deductions from Gross Income

2.200

201.0

213.3

216.8

224.0

231.3

2.300
Accelerated Deductions from Gross Income

Accelerated Deductions from Gross Income

2.300

326.3

311.4

294.6

284.2

269.6

2.400
Adjustments to Apportionment Formula

Adjustments to Apportionment Formula

2.400

371.2

382.4

394.0

405.9

418.1

2.500
Exclusions from Property Component

Exclusions from Property Component

2.500

245.5

260.5

273.5

287.2

301.6

2.600
Credits Against Tax

Credits Against Tax

2.600

604.7

700.9

723.8

801.4

880.4

2.700
Entity Exempt from Taxation

Entity Exempt from Taxation

2.700

21.5

23.3

24.3

25.5

26.8

Total

1,911.0

2,051.0

2,090.0

2,194.6

2,299.3

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