Figure 10 After Two Strong Years, Profit Growth to Slow Annual PercentChange in CaliforniaTaxableCorporateProfits Forecast ... The key determinant of CT receipts is the strength of corporateprofits reported on California tax returns by businesses. After falling in 2001 and most of 2002, California earnings rebounded in 2003 and then soared by over 20 percent ... california
receipts is Californiataxablecorporateprofits. As shown in Figure 5, they jumped ... Figure 5 Both Taxable Sales and Profits to Slow Annual PercentChangeCaliforniaTaxable Sales CaliforniaTaxableCorporateProfits Forecast ... 2006 level to just 3.2 percent in 2007 and 3.8 percent in 2008. We then see taxable
at corporate income taxes relative to personal income. In this regard, California’s CT burden is a bit above average for the U.S. as a whole (0.6 percent versus 0.4 percent). 2006 Tax Year S Corporation Taxabilitya Basic Tax Rate (%) General Minimum Tax ... Pennsylvania Exempt Massachusetts Exempt New Jersey TaxableCaliforniaTaxable Wisconsin Exempt Idaho Exempt New York Taxable Arizona Exempt North Carolina Exempt ... Exempt Michigan Taxable a In some states, exempt entities do not face a general state