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Federal and provincial/territorial corporate income tax rates
October 27, 2023
Authored by RSM Canada LLP
Kevin Whynott shared this article
ARTICLE | October 27, 2023
In Canada, corporate income taxes are levied by both the federal government and provincial/territorial governments. The table below offers an illustrative example of the tax rates imposed by the federal and provincial/territorial authorities on income earned by Canadian-controlled private corporations (CCPCs) and general corporations. We've also included a combined federal and provincial tax rate for your convenience. For non-resident corporations, the general corporation rates listed in the table apply to business income associated with a permanent establishment in Canada.
Corporations residing in Canada are subject to corporate income tax on worldwide income. Review the 2023-2024 corporate income tax rates.
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This article was written by Daniel Mahne, Chetna Thapar, Elizabeth Ojesekhoba and originally appeared on 2023-10-27 RSM Canada, and is available online at https://rsmcanada.com/insights/services/business-tax-insights/federal-provincial-territorial-corporate-income-tax-rates-2023.html.
The information contained herein is general in nature and based on authorities that are subject to change. RSM Canada guarantees neither the accuracy nor completeness of any information and is not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. RSM Canada assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect information contained herein. This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations. This analysis is not tax advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.
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