US Corporate Tax Rates vs. World’s Largest Economies

Comparing US Corporate Tax Rates to the World’s Largest Economies (2008)
The United States is the world’s largest economy. When compared to the next 14 countries that represent the world’s largest economies (number 2 through 15) by gross domestic product (GDP) as of 2008, here’s how the US stacks up. (Wikipedia & CIA World Factbook)

Overall RankCountry/StateWorld GDP Rank (2008) Combined Federal and State Rate (Adjusted) (a)US Rank
 Iowa 41.61
 Pennsylvania 41.52
 Minnesota 41.43
 Massachusetts 41.24
 Alaska 41.15
 New Jersey 41.16
 Rhode Island 40.97
 West Virginia 40.98
 Maine 40.89
 Vermont 40.810
 California 40.711
 Delaware 40.712
 Indiana 40.513
 New Hampshire 40.514
 Wisconsin 40.115
 Nebraska 40.116
 Idaho 39.917
 New Mexico 39.918
 Connecticut 39.919
 New York 39.920
 Kansas 39.821
 Illinois 39.722
 Maryland 39.623
 North Dakota 39.624
1Japan239.54 
 Arizona 39.525
 North Carolina 39.526
 Montana 39.427
 Oregon 39.328
2United States139.27 
 Arkansas 39.229
 Tennessee 39.230
 Washington * 39.231
 Hawaii 39.232
3Germany438.9 
 Michigan * 38.933
 Georgia 38.934
 Kentucky 38.935
 Oklahoma 38.936
 Virginia 38.937
 Florida 38.638
 Louisiana 38.539
 Missouri 38.440
 Ohio 38.341
 Mississippi 38.342
 South Carolina 38.343
 Utah 38.344
 Colorado 3845
 Alabama 37.846
4Canada1136.1 
 Texas * 36.047
 Nevada 35.048
 South Dakota 35.049
 Wyoming 35.050
5France534.4 
6Brazil1034 
7Italy733 
8India1233 
9Spain932.5 
10Australia1430 
11United Kingdom630 
12Mexico1328 
13South Korea **1527.5 
14China325 
15Russia824 
Overall RankCountry/StateWorld GDP Rank (2008) Combined Federal and State Rate (Adjusted) (a)US Rank
*Michigan, Texas and Washington have gross receipts taxes rather than traditional corporate income taxes. For comparison purposes, we converted the gross receipts taxes into an effective CIT rate. See Tax Foundation Notes (link below) for methodology.
** On June 3, 2008, South Korea’s Ministry of Strategy and Finance announced that it will cut the maximum corporate tax rate from 25% to 22% to stimulate economic growth. (Source: Xinhua)
(a) Combined rate adjusted for federal deduction of state taxes paid

Data compiled from:
http://www.taxfoundation.org/publications/show/22917.html
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
Source: OECD, http://www.oecd.org/dataoecd/26/56/33717459.xls